Unless you have a boat, you will probably want to wait till fall, when they drain the lake, to hike to these falls. However, they are visible from above as well.
Drive 21 miles north of Fayetteville on US 19. Just after you go over the bridge, on your right is a parking area for the lake. It's climbers access area. Hike the trail down to the lake. Some also call this Bastards Cove or Salmon Run.
From the New River Bridge, drive 19 miles. Take Hilltop Drive/Whippoorwill Road on your left. Follow paved road almost to the end (100 yds.), take a left and park then follow the dirt road until you reach a fork and take a left. Travel this trail past a campsite, down and left. Cut down the steep, often muddy hill to the lake.