Two boys – both aged 16 – were believed to have been on a fishing trip this morning at Lake Mulwala, Yarrawonga, close to the NSW border, when a wave swept the duo from their tinny and dragged them underwater at around 9am.

Two bystanders who witnessed the incident managed to pull one of the boys to safety, however the second was unable to be found.

Search and Rescue officers are currently searching the lake with the assistance of Airwing, SES, and police divers.

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