August through September is prime time for catching fat rainbow trout, some of which exceed 28 inches long. The Kvichak River Policy (the drainage of Lake Iliamna) is catch and release on trout (and all other native fish), but not on salmon. Sockeye (red) and Chinook (king) salmon are consistently found in the lake and are open to harvest under Alaska Department of Fish and Game Regulations. Lake Iliamna also has one of few populations of freshwater seals in the world. It also serves as a nursery for the largest red salmon run in the world. Red salmon spend half of their 5-year lifespan in fresh water. This is longer than any other species of salmon. Monster Legend Local residents have a number of stories about the alleged Iliamna Lake Monster, an unknown aquatic creature. Speculation exists that reported sightings may be an undocumented population of white sturgeon. If true, this would be the most northerly population known to exist, just a few hundred miles from the Arctic Circle. Jeremy Wade, presenter of Animal Planet's River Monsters, is among those who speculate these sightings of a reputed "monster" is a white sturgeon. Others believe that it is a Pacific sleeper shark. Evidence of this is corroborated by a 2012 YouTube video that shows a smaller Pacific sleeper shark in Lake Iliamna. There were several new sightings in 2017. The Anchorage Daily News once offered a prize of $100,000 for concrete proof of its existence. See also List of lakes of Alaska List of reported lake monsters References External links Lake Iliamna Dam in Minecraft Lakes of Lake and Peninsula Borough, Alaska Lakes of Alaska