Yellowknife is situated on the shores of the Great Slave Lake on the rim of the Arctic and is the capital of the Northwest Territories. This city is very young, diverse and bustling with energy. It has a flourishing economy based on gold, oil, and diamonds of late. This city does in fact have a bright prosperous future ahead. If you are visiting Yellowknife it is suggested you visit the Yellowknife Cultural Center for a good musical or drama performance. Also, the Prince of Wales Northern Heritage is worth a visit, which is home to some great artifacts of the Metis Indian tribes and the Inuit.