The picture was published in the 1949 Greystone (U of S Yearbook). The area is now known as the Ski Jump Coulee, and the Meewasin Valley Authority has erected a commemorative plaque to mark the site.
This was actually the second location for a ski jump on the riverbank. The first was at Devil's Dip, just south of the Diefenbaker Centre. It opened and closed in 1930. In January 1929 President Walter Murray gave permission to the newly formed Saskatoon Ski Club to build a ski slide “on the big hill near the varsity.”
Before the end of the season a jumper had broken a leg and the university pulled its support. The club moved the jump site down the riverbank to what then was city property.
The jump was reconstructed in 1936 and measured 25 metres (86 feet), making it at the time the highest ski jump in Western Canada. In 1971, Saskatoon hosted the Canada Winter Games.
Part of the new facilities at Mt. Blackstrap was a ski jump, making the riverbank facility redundant. It was closed in 1974 and demolished in 1978. If you venture off the trail, you can still see the remnants of the jump’s footings and tow lift.