By 2001 the group had changed its name to the NWT Mining Heritage Group and began planning for the creation of a mining museum for Yellowknife and the Northwest Territories and Nunavut as a whole. The museum will be located at the old Giant Mine site and will include the old 'A'-shaft powerhouse and headframe, a warehouse, recreation hall, a portion of the old townsite, and an outdoor display area that includes mining machinery and an old log cabin from Con Mine. In July 2002, the group formed a registered society.
Work in 2006 was focused on constructing a length of mine rail, placing old machinery on the rail, renovating the small log cabin, and beginning renovations of the recreation hall. In the summer of 2007, the old recreation hall roof was replaced with a new metal roof and a fundraising campaign was started to help pay for future renovations. In 2010 $60,000 was raised for repairs to the foundation wall and more work is planned in the future dependent on new sources of funds. One of the major causes of construction delays has been the environmental assessment process for the Giant Mine. Land use planning in the Giant Mine Townsite area is dependent on the completion of remediation at Giant Mine as a whole.