This animal lair is on the northwest side of lake.
As with other lairs, your location objective is to kill the marked beast. A spear works well here- you can attack your target while still damaging and driving off flankers. Kill the marked hyena for location completion.
There is a small lootable camp to the north, formerly belonging to one of Medunamun's spies who was eaten by hyenas. It was probably karmic.