A 19-year-old Toronto man who was rushed to hospital in critical condition after being pulled from the waters of Lake Simcoe on Saturday has died, police say.

Ontario Provincial Police say that a group of men were in the water at Sibbald Point Provincial Park near the Town of Georgina when one of them ventured into a deep area and became panicked.

At that point, police say a second man then went to assist the first man.

Both men then slipped under the surface of the water.

OPP say that the two men were subsequently rescued and given CPR.

One of the men was revived and is expected to be OK, however the second man was taken to hospital in critical condition and later pronounced dead.