Kelly Jones (41) from Charlestown, South Carolina ,was found at 12.30 pm in the Old Rectory, Glencolmcille, in the townland of An Tsraid- just a few hundred yards from where the search was being co-ordinated at the Naomh Columba GAA pitch.
Kelly Jones who has been found in Glencolmcille.
Brian Murray, a spokesman for the Donegal Mountain Rescue Team said Ms Jones was located in an out building by local volunteers along with the gardaí.
She was suffering from hypothermia and had a leg injury. Ms Jones was flown by helicopter to Sligo General Hospital.
The services sector employee from Georgia had been staying in a hostel in Malinmore but went missing at around 11am on Saturday.
The search party included the Donegal and Sligo-Leitrim Mountain Rescue teams, the Killybegs Coast Guard and the Sliabh League Walkers. The North West Mountain Rescue and dog teams were also involved.