UPDATE: Two Women And Two Boys Found, Three Arrested After 'Domestic-Related Incident'
Police have confirmed a 71-year-old woman, a 41-year-old woman and two teenage boys have been found safe.
Three men aged 23, 29 and 44 have been arrested in relation to the incident and are expected to be charged police confirmed on Wednesday morning.
Tactical Operations Unit and Dog Unit, with the assistance of PolAir located the 44-year-old man with a 41-year-old woman in bushland near Blaxlands Ridge in NSW at about 11.30pm on Tuesday night.
Police held fears for the 41-year-old's safety after they were unable to locate her following the 'domestic-related incident'.
A 71-year-old woman and two boys aged 13 and 14 were located earlier on Tuesday.
The initial incident saw officers respond to a property in Ootha near Condobolin in the state's Central West said they found the house well ablaze and a man injured a short distance away.
Responding officers were told two men armed with a shotgun, a knife, and an axe, attended the home at about 5am on Tuesday when they assaulted the 68-year-old male occupant, knocking him unconscious.
Police claim the man regained consciousness to find his home had been destroyed by fire and its four other occupants were reported missing.
Officers at the time said they held "serious concerns" for the welfare of two women aged 71 and 41 and two young boys.
"Our inquiries are still continuing and part of those inquiries are certainly around whether or not there are still occupants within the premises," police told media on Tuesday afternoon.
The 68-year-old man has since been airlifted to hospital but remains in a critical condition.
Police have established a crime scene at the property.