The Strange Lake plutonic complex consists of three annular Mid-Proterozoic arfvedsonite-aegirine-bearing alkali granites emplaced in the Rae province of the Canadian Shield. The mineralogy, chemistry and structural setting of the complex are very similar to that of many peralkaline central salic complexes associated with the development of the Gardar rift in southern Greeland. The Strange Lake granites are highly fractionated (Rb/Sr=5 to 160 and K/Rb=27 to 120) and carry unusually high abundances of HFSE and REE-bearing exotic minerals (e.g. pyrochlore, gittinsite, elpidite, gadolinite and kainosite) which are reflected in the elevated HFSE (e.g.Zr=307 to 16800 ppm) and REE (e.g. La=84 to 1337 ppm) contents of the granites. HFSE and REE increase from the oldest intrusive unit, which is hypersolvus and unaltered, to the youngest, which is subsolvus and metasomatized. The unaltered granites display a restricted range of δ18O values (+8.2 to+9.6‰) and low δ18O signatures for fresh arfvedsonite/aegirine (+4.8 to+5.2‰). Anomalously high CaO (0.7 to 3.2 wt%) and MgO (0.1 to 0.6wt%) concentrations characterize the altered subsolvus granites. These rocks also have elevated whole rock δ18O values (+9.6 to +11.9‰), negative Δδ18Oquartz-alk.feld. (-0.1 to-1.6), and high δ18O values of altered arfvedsonite (i.e.+6.5 to 13.75‰) that correlates positively with whole rock δ18O values. The chemical and isotopic data are consistent with a model in which the least evolved alkali granites are formed through differentiation from trachytic (syenitic) parents. Extreme HFSE and REE-enrichment may have been accomplished by differentiation through fractional crystallization and heterogenous distribution of F-rich silicic residual melts in which the REE and HFSE are transported as fluorocomplexes. The O-isotopic values are consistent with the circulation of low temperature (lt;200°C) hydrothermal fluids in the youngest subsolvus intrusive unit which caused extensive Ca (Mg and Sr) metasomatism and fluorine leaching, widespread hematization, and remobilization of the HFSE and REE.