A desperate search for two missing men is underway after a private boat capsized off the coast of Campbell River early Saturday morning.

Mounties and the Coast Guard were alerted to the sinking vessel by the Joint Rescue Coordination Centre at 2:48 a.m. A Zodiac deployed by an Alaskan ferry in the area rescued one man found clinging to the top of the capsized vessel, about a half-mile north of the city’s former pulp mill.

Two other men were reportedly on board the 67-foot steel landing craft, which was on its way to Campbell River when it started taking on water.

RCMP deployed a Cormorant helicopter from CFB Comox to help find the men, but an exhaustive search by land, sea and air failed to turn up any sign of them.

Police say it is unclear whether the two men were attempting to swim to shore after the vessel began taking on water.

Transport Canada has been notified of the search and Campbell River RCMP is now calling it a missing persons case.