Elk Point is a town located in Eastern Alberta, Canada. It is located on Highway 41. A number of oil related businesses have located in Elk …Elk Point is a town located in Eastern Alberta, Canada. It is located on Highway 41. A number of oil related businesses have located in Elk Point. Agriculture is also important in the Elk Point area. Elk Point is located on the North Saskatchewan River which was a fur trade route. Both the Hudson's Bay Company and the North West Company had posts on the river near Elk Point from 1792 to 1800. Alberta Culture has built an interpretive centre near the remains of Fort George and Buckingham House.