Two men are lucky to be alive after their boat sank in Lake Ontario Saturday morning.

The men were fishing off the coast of Toronto Island’s Gibraltar Point when their 34-foot Bayliner power boat began taking on water at around 10:45 a.m., police say.

Recgonizing imminent danger, the men sent out a mayday call over their marine radio and then climbed into a life raft.

By the time a rescue boat with the city’s marine unit arrived at the scene 15 minutes later the Bayliner had sunk.

“It was gone. There was just a chair and some stuff floating in the water and obviously the raft with two guys inside it who were wet and pretty shaken up,” Const. Danny Phillips told CP24. “If they hadn’t had that dinghy they would have been in rough shape. The water is only eight or nine degrees and it wouldn’t have taken too long for the situation to get pretty grave.”

The men were examined by a medical crew once they returned to shore, but were deemed to be unharmed.

Police say they will not recover the boat from the bottom of Lake Ontario.

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