Police issued a news release saying a Lake Buccaneer amphibious plane was en-route from Regina to La Ronge with an adult male and female on board.
The second plane was a Piper PA-28 travelling from Calgary to St. Brieux, northeast of Saskatoon.
It had two adult males and one young male aboard.
Capt. Robert Landriault at the Joint Rescue Co-ordination Centre in Trenton, Ont, says the centre was alerted Saturday morning that aircraft wreckage was discovered near St. Brieux.
He says police responded to the scene, and determined there was actually wreckage from two planes.
Police say the first plane they found was submerged in a small body of water and their investigation has determined it collided with the second plane.
They say their underwater recovery team will remain at the scene until dusk.
The Transportation Safety Board says investigators are on their way to the area.
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