RCMP report that the body of the missing man was recovered at approximately 11:30 Thursday morning. The name of the deceased is not being released.
Mounties say a wave crashed the boat, carrying eight people.
A woman was thrown overboard and a 23-year-old man jumped in to rescue her.
She resurfaced, while the man did not. The boat began to take on water.
The six others on board swam to shore safely.
Police say search and rescue teams have not located the unidentified man.