It lies in the Ampezzo side of the Val di Fànes, at the limits of the Natural Park.
From Cortina. As you reach Fiàmes you have to continue for about 1 km along the highroad. Then continue as far as the bridge at Pian de Loa, where the road becomes steeper. Follow the sign to reach Ponte Outo; at the junction turn right whether you want to visit Fànes waterfalls. Then continue on the left of the valley as far as you get to the lake: it takes about 1,45 hours from Fiàmes. After about 200 m you enter the province of Bolzano.