Overview Shadow Bay Campground rests on the shores of Waldo Lake in a forest of towering conifers. This large recreation area provides plenty of things to see and do like sailing, canoeing, fishing and swimming.Recreation Waldo Lake is circled by the Jim Weaver Loop, a 22-mile hiking and biking trail. The Shoreline Trail lines the lakeside of the campground and takes hikers and bikers to a network of other trails. From there, hikers can continue into the Waldo Lake Wilderness, but mountain biker