RCMP initiated a search Monday after being informed the day before about the two being overdue from a fishing trip near Birch Point on the Lake's western shore.
They were eventually located in Roosevelt, Minnesota.
RCMP says the two had spent the night in the bush after becoming disoriented by blowing winds.
One the men eventually walked to a nearby home where he contacted his father's employer who called police.
Both were picked up, but the one man had to be taken to hospital in Roseau for treatment of frostbite.
