All three were thrown in the fast-moving, 56-degree water Monday as they tried to retrieve a snagged anchor and the boat sank.
The Clark County sheriff's office said the boy is presumed drowned.
The 18-foot boat was owned by 59-year-old Robert Schmalz of Marysville, who remained in a Portland hospital Tuesday but is expected to recover. His son, 34-year-old Eric Schmalz, is the boy's stepfather. He was treated for hypothermia.
The sheriff's office said none of the three were wearing life jackets. The men were picked up by other boaters.
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