Five missing teenagers have been found on an island in Reindeer Lake in northern Saskatchewan.

The teens were located by a search plane Monday around 12:50 p.m. CST on the shore of Malcolm Island. They were then taken by a rescue boat to the other side of the island, where planes can land on an airstrip.

All five teens, four boys and one girl, were taken to the community of Southend, Sask., by plane.

We saw all five of them, all waving at us frantically. And they had a fire going and some smoke going. They were trying their best to signal us. —Paul Ricklefs, the pilot who spotted the five teenagers.

Pilot Paul Ricklefs spotted the teens.

"We saw all five of them, all waving at us frantically. And they had a fire going and some smoke going. They were trying their best to signal us. But, it was pretty much right on top of them before we saw them," he said.

He flew three of the teens back to Southend and spoke to CBC News shortly after they returned.

Ricklefs said all the teens were in good enough condition to walk around and talk, but he didn't have much of a chance to chat with them.

Two trips were needed to Southend. The first carried three of the teenagers and the second the other two.

Tyler Bear, 17, was one of the teens rescued on Monday. (CBC)

One of the rescued youth said they were on a hunting trip Tuesday when one of their two boats started to sink. They were then forced onto the island, where they became stranded.

"We're driving there and the boat just broke down in the big waves, real frigging big waves. It was scary," said Tyler Bear, 17.

They will receive medical treatment at the Arthur Morin Memorial Health Centre in Southend as a precaution. RCMP report all appear to be in good health.

A boat and its crew return from searching for five teenagers who had been missing from their northern Saskatchewan community since last Tuesday. (CBC)

There is almost no cellphone coverage on much of Reindeer Lake, where the teens were found.

Malcolm Island is roughly one to two hours away from the shores of Southend, Sask. It's located 10 kilometres south of the northern community of Kinoosao.

On Thursday, a major search involving planes and boats and people on foot began around Reindeer Lake, about 500 kilometres northeast of Saskatoon.

The search was hampered by poor weather, with temperatures well below zero and winds gusting to 40 km/h.