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The entrance to the puzzle is west of Arcallion Waypoint — , on the north shore of Arca Lake. Head north and west out of Arcallion Digs. Swim across the lake to the west, looking for a path on the north shore, just by a small waterfall trickling out of the rocks. Head up the path and interact with the gate to enter.
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The first room contains a stream with some boulders in it, and three pressure plates. There is a gate on the north side of the, which only opens when all three pressure plates are activated at once. To do so, place a boulder on each of them.
The locations of the pressure plates, as you enter, are:
Pick up boulders from the stream and place them on each pressure plate, making sure to drop it safely by pressing your weapon swap key ( by default). Be sure to place them on the middle of the pressure plate, on the lighter square. If placed correctly, the plate will make a grinding sound and be visibly pressed down. The boulders will disappear after a short while, so work quickly.
If you're having trouble placing all three boulders quickly enough, try dropping two boulders near, but not on, two of the plates. Then, place the final boulder directly on the final plate, and run back to finish the placement of the first two boulders. This can decrease the time between the first and last boulder being placed, giving you more time to make it through the next gate.
If the gate is still closed even though all three boulders seem to be in place, try taking each one off and putting it back on again. Move off the plate and wait for it to raise again, before putting the boulder back on, ensuring that the plate is pressed down properly.
The next chamber's floor is constructed of loose rocks, most of which will fall away when you step on them. Certain differently-shaped rocks won't fall: a path of them zig-zags across the center of the room to the other side.
Either jump carefully across these safe rocks, or run and jump as quickly as you can, making use of boons like Swiftness and Superspeed to increase your chance of survival. As mounts are not disabled in this part of the puzzle, any mount can also be used to easily cross this area.
If you fall, you will be impaled on the spikes at the bottom, killing you and granting the achievement Fawcett's Revenge. You will have to teleport to a waypoint and start the puzzle again. Alternatively, revive from the downed state by using Rescue Protocol (skill) and use Prototype Position Rewinder or mounting up to get yourself back out of the pit.
Although not really a maze, the lack of map visibility in this area can be disorienting. The tunnels are lined with spike traps that will damage you and inflict Crippled—if you aren't careful you may be downed. The tunnels, and the remainder of the puzzle, are guarded by members of Fawcett's Ghostly Crew.
Active spike traps are marked by red circles on the ground: avoid standing on these. When the red circle fades away, it's safe to proceed.
The tunnel splits, rejoins, and splits again, before exiting into the final room of the puzzle. Keep to the left or right as you proceed west, and you'll make it through to the other side, where the exit tunnels turn into shallow waterfalls and head down to the final room. Follow either one of them down and over the first ledge, stopping before you go over the edge into the lake.
Captain Fawcett's ship, and his treasure, await in the center of the final cave. Head south along the ledge, to the wrecked hull of a ship with a stairway leading up. Climb it, and follow the sloping beam on the top deck up into a small cave. Follow the cave around to another beam at the end of a small waterfall, climbing up to the final jumping challenge: a series of beams jutting out from the cliff wall. Carefully jump across each one, stopping at the very end of the final beam. Make one final jump to angled mast on the ship below you, and carefully run down it to the deck.
Captain Fawcett may be found on deck, guarding his treasure: dispatch him if he is present, then jump down the trapdoor into the cargo hold to loot the Magnificent Chest there. Completion of the puzzle may be awarded as you run across the deck, otherwise it should be awarded as you enter the cargo hold and approach the chest.
The exit to the puzzle is southwest of Fawcett's ship. To exit the cargo hold, climb the ramps at the northwest end of the ship, emerging back onto the deck. Jump off, and climb the slope out of the water and up to a ledge overlooking Arca Waypoint — , where you may safely jump down.
There is a partial shortcut to this puzzle, which allows you to skip directly to the final room with Fawcett's ship. You will still need to complete the final jumping section, however. If you just need Skyscale Lost—Fawcett's Bounty, this shortcut will take you directly to it, no extra jumping required. This shortcut requires:
Starting from Arca Waypoint — , follow the cliff east a bit until you see a ledge above you. Back away from this ledge, to the southwest, until you are no longer effected by Mounts Disabled. Depending on your choice of mount:
Once on the ledge, head inside to find yourself on a ledge overlooking Fawcett's ship. Jump down into the water, and swim northeast towards the stairs there. From there, follow the instructions above for room four of the intended path.
- Jumping Puzzles: Fawcett's Bounty — Complete the jumping puzzle. (10 )
- Jumping Puzzles: Fawcett's Revenge — Take a one-way trip into Captain Fawcett's pit of death. (10 )
- Daily: Daily Fawcett's Bounty Jumping Puzzle — Complete the Fawcett's Bounty jumping puzzle in Harathi Hinterlands. (0) (Historical)
- Howler III: Howl: Fawcett's Excess — Found among the treasure of Fawcett's Bounty in Harathi Hinterlands.
- Sunrise III: Dawn: Fawcett's Sunbeam — Use the Illuminator to capture one of the sunbeams in the cavern near the end of the Fawcett's Bounty jumping puzzle in Harathi Hinterlands.
- Chuka and Champawat IV: Secluded Tour: Fawcett's Bounty Feasibility Report — Complete the Fawcett's Bounty jumping puzzle in Harathi Hinterlands.
- Skyscale Lost: Skyscale Lost—Fawcett's Bounty — Find your Skyscale in the Fawcett's Bounty jumping puzzle in Harathi Hinterlands.
- Although it's easier to reach the entrance from Arcallion Waypoint — , the end of the jumping puzzle is closer to Arca Waypoint — , making that more popular for any mesmers offering a shortcut to the end of the puzzle.
- Gliding Disabled and Mounts Disabled are applied throughout the final cave of the puzzle, where the ship is.
- They are not applied in the earlier chambers with the boulder and falling rock puzzles, allowing the use of mounts to ease those sections.
- If you're only here for the Skyscale achievement, you can get to the skyscale from the outside by launching yourself from a Springer with Bond of Faith.
- The area is a direct reference to The Goonies. 
- The bottom of the lake in the final chamber, around Fawcett's ship, is littered with piles of (non-lootable) coins and treasure, indicating the vast wealth he must have accumulated in life.