The pair were found by a group of snowboarders near the Karels T-Bar, one of the highest points in the resort, just after 5pm.

Authorities had been searching for the pair who had gone missing in deep snow and rugged terrain earlier in the day.

NSW Ambulance say the man and girl - thought to be 10 - became lost while on a snowboarding tour from the alpine resort.

The girl was being assessed by paramedics at the scene but a NSW Ambulance spokesman said neither had any major injuries

The spokesman said the pair would be free to go home if they were well enough.

Earlier, NSW Ambulance Superintendent Jordan Emery told 2GB on Monday the search was a "massive effort" between police, Fire and Rescue NSW and ambulance.

"There's been a huge dump of snow this afternoon which is making it challenging," he said.

"[But] we're really hopeful we'll be able to locate them before the sun sets this evening."

Supt Emery said the father's mobile phone had a low battery, which was affecting communication.

The pair were in "very rugged terrain", he said.

with AAP