The bell was taken from Batoche, Sask., to Millbrook, Ont., by soldiers during the Louis Riel-led North West Rebellion in 1885. Batoche served as the capital of Riel's provisional government of Saskatchewan at the time.
There have been reported rumours over the years of people claiming the bell was hidden in Saskatchewan or Manitoba.
The 20-pound silver bell was taken as a war trophy from the parish church of Batoche and hung for decades in Millbrook, which was home to many of the Riel's soldiers.
It was last kept in the Royal Canadian Legion hall when it disappeared in 1991.
There were reports at the time that a pickup truck with a Saskatchewan licence plate was seen speeding off from the scene.
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A media event this Friday, hosted by the Union Nationale Metisse Saint-Joseph du Manitoba, promises more information about the bell.
Phillipe Mailhot, of the St. Boniface Museum, said if the bell has indeed been found, he'd like to see it displayed in a number of places.
"The Métis community here in Manitoba is also quite strong … so I think it would be kind of neat if it could be shared," he said.