A white Yaris was located by police near Aquila Rise, which is an extension of Exton Road, just after 4.30pm.

Two bodies were then located approximately one kilometre from the vehicle.

While the deceased are yet to be formally identified, they are believed to be missing mother and daughter Isabel and Judy Stephens.

Fifty three-year-old Judy was last seen at a Clarke Street, Benalla address on Saturday, 20 May.

Eighty-year-old Isabel was last seen at a Cooinda Street, Benalla address on Sunday, 21 May.

The exact circumstances of their deaths are yet to be determined, however at this time police do not do not believe it is suspicious.

A significant search for the pair was conducted involving a number of police units, SES and other volunteers.

Police would like to thank all those involved in the search for their assistance along with members of the public and media for their support and information.

EARLIER: SEARCH and rescue crews are scouring an area between Benalla and Tatong in the search for a missing mother and daughter.

The last confirmed sightings of Isabel Stephens, 89, and her daughter Judy, 53, was at Tatong about 1pm on Sunday.

Judy has an intellectual disability and is insulin dependent, requiring daily medication.

There are also concerns for her mother given her age.

Both are well known in the region, and Senior Sergeant Mark Byers said police had received several reports of sightings.

The pair are thought to have been travelling from Tatong to Benalla in a white Toyota Yaris, registration WAB580, on Sunday. 

“They were together on Sunday afternoon at Tatong early Sunday afternoon, just for a social event,” he said.

“But we’ve had unconfirmed reports post that, which have mostly been between Tatong and Benalla.

“After 1pm, no-one has had any contact with them.”

An incident control centre has been set up at the Benalla station and the airwing is involved in the search.

“It’s very out of character for both of them,” Senior Sergeant Byers said.

“At the moment, we’re open to all possibilities.

“There’s no specific focus of the investigation – all avenues of enquiry are being investigated.”

He said the search was covering a broad area.

While the weather is generally fine today, Senior Sergeant Byers said it had rained on Tuesday night.

“We’ve got significant concerns for their welfare,” he said.

“If the community knows something, please give us a call.”

Contact police on (02) 5760 0200.