The day that many people have been waiting for is finally here as the search for $100,000 in buried treasure is on.

Gold Hunt, started by a group of entrepreneurs, was unveiled earlier this month and is touted as a 'childhood dream' of the organizers.

The event consists of a search for a chest filled with gold and silver coins where participants are guided by a map and clues they purchased from the Gold Hunt team on their website.

Two other similar searches will take place in Edmonton and Vancouver, giving people three chances to collect the hoard of treasure.

Chris Cromwell, spokesperson for the event, says it was inspired in part by successful events in other parts of the world and a bit from the time he spent with his father.

"It’s literally buried treasure, which is so exciting. I think for us, it’s more than worth it to bring in the capital, bring in the investors to make this work so that people can go out there and find real treasure."

Calgary's own gold hunt kicked off with a launch party at Prince's Island Park.

"We’re just excited for this to be happening. I'm excited to see who finds it and what lives are going to change," says Priya Pradhan, Calgary's representative for Gold Hunt.

She says they were met by a crowd of about 30 or 40 people before they even set up.

"We're going to be here until 3 p.m. just giving out the clue and answering any questions that anyone has. Turnout has been great so far."

Pradhan says a lot of people have told them about what they want to do with the money if they find it.

"A lot of people want to pay off student loans or pay off debt. This is a great way and a fun way for people who are looking for something to do."

They say the scope of the search is huge and will take hunters to many different parts of the city, so it could take days or weeks.

"But I bet we find it before Vancouver or Edmonton, that's for sure."