Oak Island is an island about five miles off the coast of Halifax, Nova Scotia, in Canada. The bay it is located in is Mahone Bay (ma-ho-ne). The reason Oak Island is an unexplained phenomena is simply because of "The Money Pit". The Money Pit is an area inland on the island where an extremely valuable treasure is supposedly buried. Though this may seem like another "Treasure Island", it's not. Why? Simple! Every few feet there is a cavity, or space, where salt water floods the pit. This may seem quite normal, but there are layers of different types of rock and wood. The layers are made up of materials which are not found on the island. Since the materials are not common in the area, it leads to the hypothesis that the pit was man-made and that a large group of people built it. The Money Pit was as hard to build as it is to take apart. Though Oak Island is real, no one is sure that the treasure which lies beneath it is real. There is a very old legend that comes with the Oak Island mystery. The legend is this: Seven lives must be taken from those who try before the treasure below is uncovered. No one knows for sure where the legend came from or if it is the truth, but that is all we know about how to uncover the treasure.