One of the male climbers was rescued by Rocky Mountain National Park Search and Rescue team members with the help of the Colorado National Guard, the release said.
The man was flown to the Medical Center of the Rockies by medivac where he is being treated. A female climber had minor injuries, according to the release.
Authorities continued to search for the third climber who was missing in the area where the avalanche happened, according to the release.
Other area climbers witnessed the rockfall and the avalanche, park authorities said in the release.