Two men were found grasping an Esky after spending the night in seas off the northern NSW coast.
The men are recovering in hospital after the ordeal, which began when their boat started to sink on Friday while cruising between Ballina and Evans Head.
A search was sparked after NSW water police received a mayday advising a vessel had begun taking on water.
A helicopter search of the area before last light failed to find the vessel or the men.
After refuelling, the Westpac Life Saver Rescue Helicopter used night vision goggles to search an area further south.
The search was called off about midnight.
It recommenced on Saturday and the pair's submerged boat was found shortly afterwards.
They were spotted nearby wearing life jackets and clinging to a large white Esky.
The men were winched to safety and taken to the Lismore Base Hospital.
The pair suffered shock and exposure and were in stable conditions, the Westpac Life Saver Rescue Helicopter service said in a statement.
