Treasure Falls is a 105-feet waterfall in the San Juan Mountains, within Mineral County, Colorado. It is located in the San Juan National Forest, off U.S. Highway 160, about 15 miles northeast of Pagosa Springs. There is a trailhead on the highway. The falls are somewhat visible from the parking lot, and a short and moderately steep hike of about 15 minutes and 300 feet elevation gain will get to the base of the falls, where there is a foot bridge for viewing. A switchback trail will take hikers closer to the plunge base, called the “Misty Deck” where hikers can view and feel the spray of the falls.