Peterborough OPP were called Friday afternoon for reports of a boating accident on White Lake near Patterson Road.
Around noon, police say a canoe with two men in it capsized while they were fishing. The two were in the water for an unknown amount of time before being spotted by someone on land. They were brought to shore by Douro-Drummer Township fire department and taken to a nearby hospital.
One man was pronounced dead at the hospital and the second is being treated for life-threatening injuries.
The cause of the accident is under investigation.