UPDATE: Police have confirmed a 72-year-old Dudley Park man died after his boat capsized south of Boundary Island.
The skipper of the vessel was seriously injured and had been taken on board another vessel.
A marine search and rescue operation was initiated with the Mandurah Water Rescue Group and Peel Water Police vessels being deployed to respond to the emergency.
The vessel with the injured man was located and he was transferred to the Mandurah Water Rescue Group vessel and was taken to shore to an awaiting ambulance.
Attempts to revive the man were unsuccessful and he passed away.
An investigation into the incident will be conducted and a report will be prepared for the coroner.
12.15pm: A man has died after a boat sank near Boundary Island on Thursday morning.
Investigations are continuing.
11.33am: POLICE, Water Police and Mandurah Water Rescue were sent to assist a vessel near Boundary Island on Thursday morning.
The alarm was raised 10.30am after the vessel started sinking in Erskine.
A Police Media spokesperson said there was one male on board which required assistance and was brought to shore.
An ambulance was called to the scene.
More information to come.