Albert J. Leathers organized the White Pine Mining District with other Reese River miners in 1865.  A Piaute Indian called "Napias Jim" (Napias is an Indian word for silver) took  Leathers, a blacksmith and prospector to a spot near the summit of Treasure Hill and showed him an outcropping of silver ore in 1867.  Napias Jim had wanted to atone for stealing food from Leathers.  This discovery became the Hidden Treasure Mine, the first major mining operation on Treasure Hill.

In 1869, Treasure City had the White Pine News, a post office, stock exchange, theater, Masonic and Odd Fellows lodges, 42 stores, a bank, Wells Fargo office and several saloons.   Most of the buildings burned down in 1874.  The ruins of the town extend over a mile along the former main road.  They include some of the stone and brick McCormick Bank, parts of other structures, many shafts, tunnels and mine dumps in the area.  At least one burial took place at Treasure City.