Set in the American Southwest, the territorial governor enlists the help of the Lone Ranger to investigate mysterious raids on white settlers by Indians who ride with saddles. Wealthy rancher Reese Kilgore (Lyle Bettger) wants to expand his land to include Spirit Mountain, which is sacred to the local tribes. The Lone Ranger realizes the natives wanted to keep settlers away so they would not discover the rich silver deposits on Spirit Mountain, while Kilgore wants to encourage a war between settlers and natives so that he can mine the mountain himself. Working with Chief Red Hawk, the governor, Tonto, a cowboy named Ramirez, and a humorous disguise, the Lone Ranger discovers the true identities of the raiders, prevents war, protects the tribal lands, and rescues Kilgore's daughter from captivity.