Mercy Bay is a Canadian Arctic waterway in the Northwest Territories.

In September 1851, Captain Robert McClure's ship, HMS Investigator became ice trapped in Mercy Bay during the McClure Arctic expedition while searching for the Northwest Passage and Franklin's lost expedition.

[2] In July 2010, Parks Canada archeologists looking for HMS Investigator found it fifteen minutes after they started a sonar scan of Banks Island, Mercy Bay, Northwest Territories.

They did a thorough sonar scan of the area, then sent a remotely operated underwater vehicle (ROUV).

[3] The Canadian archaeologists found the ship "largely intact", sitting upright, approximately 7.6 m (25 ft) under the Arctic Ocean.