The Wakamarina River is a tributary of the Pelorus River, with its confluence at Canvastown. The headwaters of the river are within Mount Richmond Forest Park, and much of the valley retains native beech forest. A basic DOC campground with river access is located at Butchers Flat. From Butcher's Flat, a tramping track follows the river into Mount Richmond Forest Park. The river has many deep pools suitable for swimming in summer.
In 1864, gold was found in the river, provoking a gold rush, and the establishment of Canvastown, which at its peak had a population of over 6,000. Today, gold can still be found in the river, and small scale claims still exist. An application to extract gold from a 120 hectare site in 2016 was denied resource consent in early 2017