Search crews in the Northwest Territories have rescued a 13-year-old boy who spent 48 hours stranded after a boating accident.

The boy's mother and younger sister drowned when their 5.5-metre aluminum boat encountered rough waters Thursday. Their bodies have been recovered, but two other people -- the boy's grandfather and a distant male relative -- are missing and presumed drowned, RCMP Staff Sgt. Bill Eubank told CTV Newsnet on Sunday.

"They were hit by high waves, the boat was swamped. The five people were thrown in the water. They were drifting in the water. (The boy) was with his mother and sister until they drifted off," Eubank said.

The boy has been identified as Peyton Kisoun-Hind.

Derek Lindsay, the mayor of Inuvik, said Sunday that the missing grandfather is Victor Allen. The boy's mother, Delma Kisoun and her daughter, Asta Kisoun-Hind are the ones who died.

"The community is devastated by this loss," Lindsay told The Canadian Press. "A community this size, you pretty much know everybody."

There are less than 3,500 residents of the community.

A miraculous rescue

Eubank said a boater who was part of the search team found Peyton Kisoun sitting on a shore about 64-kilometres northwest of Inuvik.

"When he found the boy, the boy was very quiet and subdued. He just gave him a small wave and asked very politely if he could give him a ride back to Inuvik," Eubank said.

The boater then radioed other search members and Kisoun-Hind was taken to members of his family, who were part of the search crew.

Kisoun-Hind is reported to be in shock, but otherwise in good physical condition.

Temperatures were in the 20s and the nearly 24 hours of sunshine in the Arctic helped save the teen.

Family friend Maureen Chapman of Abbotsford, B.C., told CTV News she was shocked by what the boy had been through.

"Just the horror of losing his family in front of his eyes, being left and wondering if someone was going to come and find him," she said.

Chapman worked with his mother. She remembers Delma Kisoun as a model employee who had a great sense of humour.

"A great mother. A family person. Her family was first and foremost always in her life," she said.

Chapman remembers young Asta as "just a happy, happy child, just always smiling and laughing."

Eubank said the family tragedy has brought communities in the region together.

"His family is very well respected and well known up here and it's a large extended family. They have the support of absolutely everybody, not only in this community but also in neighboring communities," he said.

At one point, 10 boats were involved in the search and a plane was brought in to scour the region. But Eubank said search and rescue efforts will soon be scaled back.

The RCMP was notified Thursday night that the group was overdue.

With files from The Canadian Press