One dead, three missing after boat hits rocks near Farallon Islands

2012-04-14 18:45:00 PDT -- One person is dead and three others still missing after a boat involved in a race around the Farallon Islands ran aground this afternoon.

The boating accident involving a 38-foot sailing vessel named the Low Speed Chase was reported around 3 p.m., according to U.S. Coast Guard Petty Officer Levi Read.

A Coast Guard helicopter was able to rescue two people from the rocks on the islands this afternoon, and an Air National Guard helicopter rescued another person, Read said.

A fourth person pulled from the water has been pronounced deceased, and another three people are still unaccounted for.

The Coast Guard has two boats on the scene, still searching for the boat's remaining occupants.