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Snowboarders missing on Mount Bogong, Victoria's highest peak

The families of two snowboarders missing on Victoria's highest peak, Mount Bogong, say they are devastated by their disappearance.

Police hold grave fears for Martin Buckland, 33, and Daniel Kerry, 32, who have not been heard from since Thursday.

A group of walkers found the pair's empty tent with sleeping bags and other equipment inside about 6:00am (AEST) on Sunday.

It appeared the men had not been at the campsite since the last snowfall on Saturday evening.

"We are absolutely devastated by the news of Martie and Daniel's disappearance and hope with every passing minute that we are told they have been found safe," their families said in a statement.

"We are not naive to the possibilities however."

The families said the men were well prepared for the trip and were keenly aware of "both the risks and the unpredictable nature the outdoors offer".

"The boys both work in sports and recreational based professions and live and breathe the outdoors, having been on many adventures such as this one in the past," the statement said.

"Their local knowledge of Mt Bogong and the surrounds, combined with their equipment and experience, just adds to the frustration of dealing with their disappearance.

"Martie's wife Sally Buckland said Mt Bogong is Martie's favourite place and he knows it like the back of his hand.

"Daniel's parents Marg and Phil Kerr said they are just devastated by the news and are trying to deal with the situation as best they can."

Crews search mountain overnight

Volunteers and nine search and rescue officers headed up the mountain to begin the search on Sunday afternoon, but were unable to locate the pair.

A police rescue squad has resumed the search after spending the night at Michell Hut.

"At the moment we haven't heard from them for a couple of days now and they've been overdue for at least 24 hours so we are concerned for their welfare at this stage," Sergeant Scott Dower said.

But he said the weather could have been much worse.

"Conditions have been pretty good over the last couple of days, today was almost perfect up there," he said.

"It would've been cold, it would've been minus five or six [degrees Celsius] overnight but conditions today were quite good."

Mr Buckland and Mr Kerr planned to stay at the hut before camping on Eskdale Spur. They had intended to return on Saturday.

The snowboarders have not been heard from since they spoke to family from a mobile phone and sent pictures of their Michell Hut camp on Thursday.

It is believed the men have an Emergency Position Indicating Radio Beacon (EPIRB) but they have not activated the alarm.