A mark-recapture experiment was conducted on Arctic grayling Thymallus arcticus in Piledriver Slough, near Fairbanks, Alaska during 1993. The timing of the experiment corresponded with spring break-up and the onset of a popular spring fishery, similar to past years. Age and size composition of the Arctic grayling population were also estimated. An estimated 10,587 (SE = 1,351) Arctic grayling > 150 millimeters fork length were present during the late-April spawning period. The stock was characterized by a high proportion of sublegal-sized Arctic grayling (less than 270 millimeter fork length) and the age composition was predominated by ages 3 and 5 year old fish. Estimates of survival and exploitation indicated the stock of Arctic grayling continues to have a low survival rate and a moderate exploitation rate. Continued declines in overall abundance and of legal-sized fish have indicated these survival and exploitation rates to be unsustainable. Restrictions to a no-harvest regulation and close monitoring of the population will occur during 1994 and 1995. Lower than expected catches of stocked rainbow trout Oncorhynchus mykiss precluded mark-recapture estimates of abundance and size composition.