The Russell's Point archaeological site was discovered by William Gilbert and Ken Reynolds in 1988 when they were searching for a Beothuk camp described by John Guy and Henry Crout of Cupids Colony. The two early colonists had described the site in their journals after a visit in October of 1612. Excavations of the site were conducted between 1994 and 1997.
From excavations, the archaeologists determined that Russell's Point had been a fall and winter camp used by the Beothuk and their ancestors from about AD 1000 to AD 1659. The Beothuk came to the site because it was on a migration route for caribou and provided them with good hunting grounds.
Two history boards and a small interpretation centre are located at the site. A number of artifacts are on display at the nearby South Dildo Whaling and Sealing Museum.