The newly designated provincial park was first designated and protected as a park reserve July 2007. Crown mineral rights were withdrawn at that time also. The park includes Little Limestone Lake, islands in the lake, and a 100-metre wide strip along the south, west, and northern shorelines. Park reserves can provide interim protection while the designation is considered for permanent protection and provincial park status.

Little Limestone Lake is the worlds largest marl lake, located near the northwest corner of Lake Winnipeg, 450 kilometres north of Winnipeg, and 65 kilometres north of the community of Grand Rapids, adjacent to Mosakahiken Cree Nation Reserve. Marl lakes turn from clear to an opaque turquoise or even a milky blue-white in warm summer weather, when calcite increases.

Manitoba Conservation solicited public input on Little Limestone Park Reserve between July 15 and August 31 2010. Manitoba Wildlands submitted comments highlighting: the inadequacy of a 100 m buffer zone around the lake, lack of classification in Manitoba's Parks Act for water, and inadequate or non-existent consultation and public review standards.