UPDATE: THE police airwing have located five trail bike riders missing at Wye River this morning.
A Victoria Police spokeswoman told Weekly Times Now the group was located on the banks of the river by the police airwing about 10am.
She said Search and Rescue officers were being winched from the chopper to the men with plans of walking them out of the park. She said the rescue would take several hours.
Police begun their search for the men, aged 18, 19, 35, 40 and 50-years-old, yesterday after the alarm was raised.
Eight men had taken off on a ride through the Wye River Valley about 4.30pm but became lost down a steep ravine.
A 36-year-old Brookfield man was able to raise the alarm before he, a 34-year-old man and another 35-year old man from Melton were found by searchers.
This morning Parks Victoria, CFA and local police have been involved in the search.
The men are believed to be in good health.