Square Islands are located in Newfoundland and Labrador

Newfoundland and Labrador

Newfoundland and Labrador is the easternmost province of Canada. Situated in the country's Atlantic region, it incorporates the island of Newfoundland and mainland Labrador with a combined area of . As of April 2011, the province's estimated population is 508,400...

, Canada

Canada

Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...

, close to Charlottetown

Charlottetown (Labrador), Newfoundland and Labrador

Charlottetown is a town of about 365 people in the Canadian province of Newfoundland and Labrador. It was said to be founded by Benjamin Powell in 1950 and named for Charlottetown, Prince Edward Island: "I thought that maybe someday the place would be the capital of the bay, the same way...

. The islands were formerly one of the major fishing areas of Labrador

Labrador

Labrador is the distinct, northerly region of the Canadian province of Newfoundland and Labrador. It comprises the mainland portion of the province, separated from the island of Newfoundland by the Strait of Belle Isle...

, with a harbour which was a key haven from Atlantic storms. The nearby Hawke Basin remains one of the world's principal shrimp

Shrimp

Shrimp are swimming, decapod crustaceans classified in the infraorder Caridea, found widely around the world in both fresh and salt water. Adult shrimp are filter feeding benthic animals living close to the bottom. They can live in schools and can swim rapidly backwards. Shrimp are an important...

fishery areas.

It is believed that extractable reserves of petroleum may lie beneath the ocean bed nearby; the area is also rich in base metals.