Known as a gathering point for Shoshone and Northern Paiute Indians, Lida Valley was the site of early prospecting in the 1860s.

Later prospectors organized a mining district in 1867 and laid out the town in 1872.  Soon stores, shops, stables and a post office were established.  Some ore was milled locally, yet high grade ore ($500-$1,000 per ton) was treated at Austin or Belmont.  After 1880 mining declined.

Lida revived and thrived for three years during the turn-of-the-century Goldfield boom, but declined again in 1907. Mining efforts resumed a few years later and a small community existed here until World War I.