The three Americans, all students at Canterbury University, fell about 500 meters (1,600 feet) Monday night while descending a glacier in Mount Aspiring National Park on New Zealand's South Island, said Wanaka police Constable Mike Johnston.
The three men were roped together when one slipped, and all three fell, Johnston said.
One climber died and a second suffered serious leg and back injuries.
The third man took care of his injured friend before climbing down to a mountain hut to seek help.
Searchers located the other two Tuesday, Johnston said.
He said the injured man had a broken pelvis and leg injuries but was in surprisingly good condition.
"The only reason he's really alive is because his mate managed to get down to that hut and raise the alarm," he said.
The two surviving men were airlifted to Dunedin Hospital.
No further details, including the Americans' names or hometowns, are being released until their relatives are notified, Johnston said.
Wanaka is a farming and tourist town 800 kilometers (500 miles) south of the capital, Wellington.
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