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There are several hiking trails around the lake and there is good birdwatching. Two waterfalls may be visited that are quite spectacular. It's a great place to relax, swim in the lake, enjoy the scenery.
To get to the lake from Tepic take the tollroad towards Guadalajara and turnoff at the tollbooth to Santa Maria del Oro. Drive through the town of Santa Maria del Oro (You may like to visit the old church there). Stop at the viewpoint to admire the view of the lake and continue on the long winding road to the lake. At the lake's edge turn left for Bungalows Koala or right for Santa Maria Resort (5star hotel)