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CHINCOTEAGUE (DELMARVA NOW)- The U.S. Coast Guard suspended its search this afternoon for two fishermen lost in the water off the coast of Assateague Island.

The two men, Walter Tate Sr., a resident of coastal North Carolina, and his nephew, Steve Tate, went missing Wednesday after their fishing vessel capsized.

"We want to extend our most sincere condolences to the families of the missing crewmembers," said Thomas Botzenhart, a search and rescue controller at the 5th Coast Guard District command center. "We have expended multiple Coast Guard assets to search for their loved ones. We have searched over 560 square nautical miles of the Atlantic Ocean off the eastern shore of Virginia in an effort to locate and rescue their family members. It is with a great deal of sorrow that we have been unable to locate them at this point of time."

A third man, Patrick Small of Beaufort County, N.C., was found by the Coast Guard clinging to a life raft and was hospitalized.

He was treated at Peninsula Regional Medical Center in Salisbury and released.

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