Two Townsville boys missing since Saturday afternoon have been found wandering on Mt Stuart.

Nicholas Baxter, 6, and Timmy Jack Carter, 5, disappeared while playing not far from their Wulguru homes on Saturday afternoon.

After a major search operation, including two helicopters, 110 Defence Force personnel and scores of volunteers, Timmy and Nicholas were found on Sunday afternoon.

Army officers discovered Nicholas first at 2:00pm on the border of Defence land on Mt Stuart, up to about three kilometres from where he went missing.

Just 500 metres away, Timmy was found at 3:30pm.

The army searched Defence Force land to find the boys. ( ABC News: Allyson Horn )

Acting Inspector Chris Lawson said they were being treated by the ambulance service.

Both are healthy, albeit dehydrated with some scratches.



"Apart from that, they both seem to be in good spirits," Acting Inspector Lawson said.

"It's what you expect after a night out in the country."

Police said part of their investigation would look at why the young boys were playing unsupervised.

"That will form part of what detectives do," Inspector Lawson said.

"At this stage we are just happy that they have been found, and are safe, and get to spend the night home in bed."

Volunteers helped in the search for Nicholas Baxter, 6, and Timmy Jack Carter, 5. ( ABC News: Allyson Horn )

The boys, who are friends and neighbours, were out playing and did not return home on Saturday when they were supposed to.

A tricycle and scooter belonging to the boys were found on a dirt track leading into bushland, about 400 metres from where they disappeared.

The boys were not wearing shoes, and Timmy did not have a shirt on.

Families of the two missing boys gather outside their homes. ( ABC News: Alyson Horn )

Police remained hopeful the boys had just wandered off and had not met with foul play.

Acting Inspector Lawson said it was a mammoth effort to find the boys.

"The whole community banded together," he said.

"It is that sort of community spirit that helps us get our job done."