There are many spots around Toronto. Peterborough is one of them. Go east along HW401. Approximately 1.5 hr of driving. There you can rent a boat for 4 at $50/day. What to know more about fishing? Here are some articles to read. http://www.fishontario.com/articles/index.html
By the way, the's a fishing shop at Midland&Shepard. You'll find some useful tools and information there.