Senior Sergeant Craig Dinnissen, of Dunedin, said a Dunedin boy and an American girl, both 17, were due back at 2pm but after they failed to make contact the boy's concerned mother contacted police.
Land Search and Rescue were notified but the pair were found by police officers just 30 minutes walk from the road yesterday afternoon, he said.
Located in steep and rugged country north of Dunedin, the Silver Peaks Scenic Reserve is popular with trampers, but weather in the area can change quickly and it has been the site of numerous rescues over the years.
Last year, three young women and a 4-year-old girl went missing in the area, eventually being rescued at 1am after crew from an Otago Regional Rescue Helicopter spotted light from a cellphone screen.
Three Dunedin teenagers perished in the Silver Peaks in 1983 after they lost their way en route to Jubilee hut.