The Marine Corps declared Monday that the three Marines who were missing after their MV-22 Osprey crashed off the eastern coast of Australia are dead, according to a report.

The MV-22 Osprey crashed around 4 p.m. local time Saturday, or 2 a.m. Eastern time, as it made its final approach to the USS Green Bay, a Navy ship that was located off the coast of Australia.

Earlier Saturday, the aircraft had taken off from the USS Bonhomme Richard and was conducting regularly scheduled operations when the "mishap" occurred.

Twenty-three of the 26 personnel on board were rescued after the crash, but three Marines were missing.

The Marine Corps and the Navy, with assistance from the Australian Defense Force, conducted a search-and-rescue operation for the missing Marines, but the military announced it suspended its mission early Sunday morning local time.

The Marine Corps said in a statement it would transition to a recovery effort.

An Australian Navy ship found the sunken MV-22, Australian Defense Minister Marise Payne said in a statement Monday.

"Royal Australian Navy survey ship Melville arrived in Shoalwater Bay overnight," she said. "Shortly after commencing survey operations in the area, the submerged aircraft was located."

Fox News reported that next of kin have been notified.