The crew launched at 9am on Monday, October 27, and when they arrived at the incident the volunteers found two men - believe to be foreign nationals - standing on rocks with The Argyll Flyer standing by to assist if necessary.
The yacht had sunk and because of the swell and the danger presented by the rocks - with the casualties not in immediate danger - the lifeboat stood by.
The RAF search and rescue helecopter had been scrambled from RAF Gannet and winched the two males to safety.
They were landed at Dunoon to a waiting ambulance but are believed to be 'none the worse for wear'.
The lifeboat returned and was available for duty at 10.30am.
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