Buck Sherman and Jake Jackson, a couple of evil carpetbaggers, illegally enter a Navajo reservation to prospect for gold and end up killing Aranho, the Navajos chief. Black Arrow, presumed Aranho's son, refuses to kill the Indian agent, Tom Whitney, in revenge, as demanded by Navajo law. Then, he is driven off the reservation for his reluctance to kill Whitney and decides to join forces with Pancho, Mary Brent and the agent to go in search of the men who killed the chief.

The Canadians have discovered a valuable substance called Compound X, which can cure infantile paralysis. When a country at war with Canada learns that Compound X also contains magnetic properties that could aid them in their warfare against the British, they send agents to infiltrate Canada and steal a large quantity of the substance. It's up to Sgt. King (Allan Lane) and his Mounties to track down the agents and put an end to their scheme.