An instructor with Aurora College in Fort Smith, N.W.T., was using one of the college's Caterpillar loaders to move some gravel when it broke through the ice on the Salt River.
It happened Monday, near the Thebacha Campground.
No one was injured in the accident.
The college told CBC they have someone working to get it out of the ice.
It's not clear what condition the loader will be in once it's rescued.