Farrell was platted out in 1906 after discoveries of gold in the area. The townsite literally sprang up in one week’s time. By the summer of 1907, Farrell had numerous tents, a couple restaurants, two rooming houses, two stables, several saloons, a lumberyard, and a post office.

The townsite was short lived as no permanent veins were ever found.  By 1909, the townsite was pretty much abandoned, although the post office did not close until 1911.