Mercy Bay is a Canadian Arctic waterway in the Northwest Territories. It is a southern arm of M'Clure Strait on northeast Banks Island. The mouth of Castel Bay is less than 20 kilometres (12 mi) to the west. These bays are a part of Aulavik National Park.
In September 1851, Captain Robert McClure's ship, HMS Investigator became ice trapped in Mercy Bay during his search for the Northwest Passage and the lost Sir John Franklin Expedition. By 1853, it was finally abandoned in the bay. The crew sledged over ice to Melville Island, where they were rescued.
In July 2010, Parks Canada archeologists looking for the HMS Investigator found it fifteen-minutes after they started a sonar scan of Banks Island, Mercy Bay, Northwest Territories. The archeology crew has no plans to raise the ship. They will do a thorough sonar scan of the area, then send a remotely operated vehicle. The Canadian archaeologists found the ship "largely intact" sitting upright in approximately 25 feet of pristine arctic water.
Coordinates: 74°4′N 119°0′W / 74.067°N 119.000°W