Inspector Vicki Walker, Aoraki Area Commander, said the three men - Kurt Blair (56) and Carlos Romero (50) from the United States, and a Canadian national - were visiting New Zealand and were reported overdue from their planned ascent yesterday morning.
Climbing colleagues at Silverton Avalanche School in Colorado posted on social media that the men were "presumed deceased" after appearing to have taken a "fatal fall" from high on the peak.
"Gear and equipment found from the party has helped SAR piece together the tragedy although remote, technical and heavily glaciated terrain coupled with deteriorating weather has prevented a recovery of the climbers," it said.
They paid tribute to Mr Blair, calling him "the nicest guy" who was a "client and student favorite [sic]" in his role as a mountain guide.
Carlos Romero was also qualified mountain guide with specialist skills in skiing, alpine and rock guiding, according to the American Mountain Guides Association.
The men flew into Plateau Hut at 3.30pm on Saturday, planning to summit Aoraki Mt Cook via Zurbriggen Ridge.
The three were due to meet their flight out at 8.30am on December 2 but did not arrive for the flight and were subsequently reported overdue.
A search was initiated yesterday involving the Department of Conservation (DoC) Search and Rescue Team, The Helicopter Line and police.
"During the search, several-climbing related items were located, which are believed to belong to the three men," Insp Walker said.
Police have been working with the US and Canadian embassies to inform and support the families of the three men.
Veteran mountaineer Chris Prudden said storms coming off the Tasman Sea could create dangers.
"That weather moves up and can hang on the main divide area and provide a lot of hazard, its not unusual for people to be caught out," he said.
Police said the search would resume when conditions allowed.
