A 22-year-old man is dead and the 17-year-old remains missing after the boat capsized near Venus Bay on Friday.
Police say the pair were reported to be clinging to a buoy near the entrance to Venus Bay on Friday morning and the 22-year-old from Smoky Bay, was eventually rescued from the water but died on arrival at the Streaky Bay hospital.
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A third man, a 22-year-old from Wudinna, managed to swim to shore.
A police helicopter, the SES, Country Fire Service and locals are scouring the waters for the missing teenager from Victor Harbour.
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