A mining camp at the foot of the Cloudy Mountains in California, 1849-1850:  Miners gather in the saloon where they are greeted by Nick, the bartender. Happy, Harry, Handsome, Trin and Joe gamble, with Sid as banker. Jake Wallace sings a nostalgic song, which provokes Larkens to break down with homesickness. Some contribute money for Larkens’s return home. Sid is caught cheating and the miners threaten him with hanging. Sheriff Rance intervenes and pins a two of spades to his lapel as a mark of shame before towing him out of the saloon. The Wells Fargo agent Ashby arrives with news that the bandit Ramerrez is at large. Rance and Sonora quarrel over Minnie. Her arrival restores order. The miners give her gifts. Minnie leads a bible-class. The post arrives and Ashby receives information about Ramerrez. Rance finds himself alone with Minnie and declares his desire for her. Nick returns with a man called Dick Johnson. He has met Minnie before, and their attraction angers Rance. Ashby and a group of men drag in José Castro, one of Remerrez’s gang. He pretends to have deserted his boss and promises to lead them to him. Castro’s intention is to distract the miners long enough for Ramerrez to rob the saloon where the miners keep their gold. He whispers to Ramerrez, alias Johnson, that he will give a signal when it is safe for Johnson to commit robbery. The miners prepare to ride off with Castro, leaving Minnie to guard their gold. Johnson is alone with Minnie. He ignores Castro’s signal, and accepts Minnie’s invitation to meet later at her cabin.

About an hour has passed:  Billie Jackrabbit visits Wowkie at Minnie’s cabin. Minnie arrives to prepare for Johnson’s visit. She describes her life on the mountain to Johnson. As they become more intimate, Johnson inexplicably announces that he must leave. It is snowing heavily outside. Minnie insists that he stay the night, though they will sleep separately. Rance and a small posse of men knock on the door. They are searching for Johnson. Johnson hides. Rance provides proof of Johnson’s criminal identity. The men leave. Minnie rounds on Johnson: he attempts to explain his life. Minnie orders him to go. As soon as he leaves, shots ring out and Johnson’s body slumps against the door. Minnie opens the door, he staggers in and she hides him. Rance returns. A trail of blood eventually leads him to Johnson. In a desperate ploy, Minnie challenges Rance to a game of poker: if she wins, Johnson will go free; if she loses, she will give herself to Rance. By cheating in the final hand, she wins.

One week later:  Rance despairs at having let Johnson go free. Distant voices draw nearer: Johnson has been caught and is brought in to face the accusing mob. Billy Jackrabbit prepares the noose. Johnson asks that Minnie will never be told of his execution. Minnie arrives and pleads with the miners to spare his life. They accept. Minnie and Johnson depart from California.