In the early 1960s, two local farmers purchased over 300 acres of land with the hopes of eventually opening their own ski hill. It wasn't long before this came to fruition when a 22-room hotel, ski lodge, and various lifts were built. Talisman Mountain Resort officially opened its doors on Christmas Eve in 1963, boasting the title of Ontario's largest ski development at the time, and it quickly became a beloved winter destination.

Development rapidly continued in 1965 when the resort expanded, adding 12 guest rooms, a golf course, and tennis courts, effectively transforming it into an all-season destination resort. Talisman's Mountainside Lodge, inspired by Bavarian ski lodges, opened in 1968 and added 42 rooms to accommodate the growing visitor numbers. At this time, Talisman was the biggest ski resort in Ontario and one of the only destination ski resorts in Eastern Canada. These were truly the golden years of Talisman.

However, despite its early successes, Talisman did face financial difficulties in the early 1980s, leading to its sale to Jake Hammer, who was the former general manager. Hammer's tenure at Talisman began with an unexpected surprise, a burst water pipe that flooded the lodge's lobby. However, he navigated the challenges and during his time invested over $12 million into the resort, aiming to revitalize its appeal in the ever-saturated Ontario ski market.

In 1986, under Hammer's direction, the Alpenhof base lodge was built, providing enhanced facilities for guests. Talisman also fully embraced the emerging sport of snowboarding and became one of the first skiing facilities in Ontario to welcome snowboarders.

During its peak years, Talisman Mountain Resort employed over 200 staff members and offered a wide range of amenities. The resort featured a snow tubing park, hotel, conference centre, swimming pools, fine and casual dining, and a day lodge with a spa and gym. The resort boasted over 100 guest rooms for overnight stays. In the late 1980s and early 1990s, the ski resort invested in two new Leitner-Poma quad chairs and a Poma triple chair, which improved uphill capacity while modernizing the lift fleet.

Unfortunately, the resort, especially the hotel, started to suffer from lack of investment as larger resort communities such as Blue Mountain were developing, and Talisman started losing appeal. The resort also faced increasing competition from neighbouring ski destinations including Beaver Valley and Blue Mountain. These challenges, coupled with financial strains, led to the ski resort's slow decline in the early 2000s. Following an early season closure due to warm weather, owner William Minis declared bankruptcy, which marked the end of a 48-year run for Talisman Mountain Resort.

Despite the closure, there has been quite a bit of interest in the potential reopening of the resort. The Municipality of Grey Highlands acquired the Talisman property in 2013, subsequently dividing it into three lots for resale. In 2014, a Toronto-based development team purchased the resort portion, aiming to reopen it as the Talisman Mountain Springs Inn, an upscale hotel and spa. However, various obstacles including the absence of skiing infrastructure hindered their plans, leaving the resort shuttered.

In 2021, the golf course and recreational lands were sold to Westway Capital, a Toronto-area development company. Negotiations between Westway Capital and the previous resort owner are still ongoing, exploring potential collaboration for the resort's redevelopment. The future of Talisman is still in limbo, and ultimately only time will tell what happens to this once-grand resort.