Last Chance; now that is an interesting name for a school.
Quoting the book, "Pioneering with a Piece of Chalk", by Bill Baergen, the school name was in fact a "last chance".
"A stalemate arose after many ratepayer meetings over which side of Squaw Coulee the school should be built on. Ministry officials made a decision and told them it was their last chance." Hence the school name of Last Chance.
"It was located on top of the hill on the South side of the road through Squaw Coulee. The school had very little room for a playground, so 4 years later, it was moved across the road."
As you drive East along Highway 540, look to the South as you go up the hill and you can see where the school was originally located.
Those rocks you see are actually a small buffalo jump called Old Woman's Buffalo Jump. A mural in High River on the Wales Theatre Building depicts this site.