Loughanure Lake is three miles long by about 1 mile wide with four islands, the biggest being Oileán Treorach, which is joined to the mainland by a stone bridge. The Island, which gives its name to the village, is situated west of the pier and thereon grows the Crann Iúir or the Yew Tree. Loughanure is famous for many years as an angling haven and in more recent years as an attractive venue for sailing and even windsurfing.

Although Loughanure Lake has had angling for centuries, the first recorded angling competition was held in 1942. The winner of that event was Willie Cissie Sweeney who received a fishing rod for his prize. The event was organised by the local anglers who got together and decided that this could be a great attraction to draw visitors to the area and also to add a bit of excitement to the sport. Those involved in those early days were Murray McBride, Seán Sweeney, Dónal and Paddy Eoinín Boyle, Johnny Phroinsais Gallagher and Donnchadh Eoin Óig McGarvey.

There was no structured committee as such but they seemed to be able to reach agreement on their plans without any problems.

They attracted many visitors to the area. One such was Captain Coman, ex. British Army who regularly visited over the years and stayed with Mary Dinny Boyle at the Corner. A stone mound at the southern end of Oileán Treorach, was build by local children of the island and other natives of Bunawack, from loose rocks, which was scattered around that area and served to mark a submerged rock when the lake was high. When the lake was low the rock was clearly visible and one could wade out to it. On one of his visits to Loughanure in the early forties, Capt. Coman notices the structure and immediately remarked: "Its like Loyd George". Ever after that it became known as Loyd George and when one was asked where they had been fishing on loughanure lake it was as a geographical location to indicate where one had been; …..at Loyd George as were other locations referred to as: the limestone, the alter, the clasaigh, the clutch etc.

Loyd George finally succumbed to a violent storm in the early seventies and later in that same decade Dan Gerard Boyle and a vibrant committee of the day which was responsible for the building of a magnificent pier, car park, boathouse and clubhouse, undertook to build an eight foot model lighthouse on the spot where Loyd George had graced for three decades and was lit then by a battery operated flashing light. Just recently (2004) it was revamped again and an equally enthuastic young committee Min Thograí Loch an Iúir or The Loughanure Small Projects committee has installed a permanent solar light.

In the eighties the then Government tried introducing a rod licence on all lakes and river in the country. The anglers nationwide resisted this vigorously. The Government showed how little knowledge they had of angling and anglers when having failed to get agreement on a £25 licence they reduced this to £15. Of course the anglers resisted not because of the cost but because of the word licence. It was to them landlordism back again, and having spent centuries to get our fisheries free from British landlordism, they were not about to give in to Irish landlordism. Consequently, the anglers withdrew their boats and amenities and all fisheries were closed down including Loughanure where no fishing took place during the 1998 season. John Sweeney of Loughanure Anglers was Donegal's representative on the National Anti-rod licence committee and co-ordinator of the battle in Donegal. The rod licence issue was finally put to rest at the next general election when anglers nationwide pressurised the government and they dropped the licence idea. The minister who tried to impose the licence lost his seat and has left politics.

In 2003 the present Angling committee under Pat McGee commenced the building of a new boathouse and social club at the lakeside and was recently officially opened.

Among the very many famous people who were visitors to Loughanure Lake was the late Cardinal Thomas Ó' Fiach. Other names spring to mind from the forties and fifties. People like Dr. Ashforth, Fr. Gunning, Fr Sharkey and more recently people like play write Brian Friel and legal eagles Peter Madden and family and Oliver Kelly and family.