Lost Mill Falls is the upper of two waterfalls along Dicks Creek, a major tributary of the Middle Fork Broad River in Lake Russell WMA. This particular Dicks Creek should not be confused with other Dicks Creeks home to better-known waterfalls in Dahlonega and Clayton.

Lost Mill Falls forms a scenic cascade gradually dropping about 18 feet over a large sloping rock. The most interesting feature of Lost Mill Falls is the stone ruins of an old grist mill, located about 300 feet below below the small waterfall. Lost Mill Falls can be accessed with a short downhill bushwhack from an unmarked trail headed to a wildlife clearing, off Guard Camp Road (FR 89).

For detailed directions, see page 244 in Mark Ozboyd's "Waterfalls of Georgia" guidebook.