But the ordeal had a happy ending with the 34-year-old Italian and 31-year-old Scotsman found safe and well yesterday afternoon.

Police said both men were in high spirits when they were located, but were too embarrassed to talk to the media.

Western District search and rescue senior sergeant Simon Conroy said it was a reminder for people to tell someone where you're going and stick to your plans.

The two men, who were visiting a friend in Tasmania, went to the Leven Canyon area about 3pm on Friday.

When they did not return, the friend raised the alarm and State Emergency personnel and police officers began an extensive search about 10.30pm.

The Westpac helicopter was dispatched from Hobart yesterday morning, but the bushwalkers were located before it arrived, so it was turned around.

One of the men had a flight back to Victoria yesterday afternoon, where they both currently live and work. However, he had to cancel it.

``It appears that they simply misinterpreted the map that they had,'' Senior Sergeant Conroy said.

``They walked too far on a track which they thought was a loop but in fact just goes through to Penguin - it was the Penguin-Cradle trail.

``By the time they realised they'd gone too far, it was getting dark so they made camp under man ferns down by the river and stayed close to the track.''

Senior Sergeant Conroy said the pair continued walking for a short time yesterday morning but were going in the wrong direction.

When they realised, they turned around and started to make their way back, which was when an SES crew located them.

``They weren't prepared for an overnight stay and were only dressed in light clothing,'' he said.

``But they said they were quite comfortable - they made a bed and stayed still, which is the right thing to do rather than wandering in the dark where you get disorientated and possibly more lost.''

The two tourists were very apologetic to the emergency workers.

``It could have been much worse if no one even knew where to start the rescue from, so we're fortunate that they said to their friend that they were going to the Leven Canyon area.''

About 30 police and SES personnel participated in the overnight search, which began about 10.30pm on Friday and ended about midday yesterday.