'Despite a number of searches over the past seven weeks, the pair have not been located and have not contacted family or friends,' the police statement said.
'These searches are expected to resume in the coming weeks depending on the weather.'
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'It is still yet to be determined whether their disappearance is suspicious,' the police statement said.
Two major search operations involving drones, helicopters, mounted police, search dogs and ground crews have come up with nothing.
They say he is a very experienced and 'well-equipped bushman,' the Herald Sun reported.
Making the case even more peculiar is that Mr Hill's wife Robyn, 71, revealed she had no idea her husband was with another woman when he went missing.
She said her husband had been friendly with Ms Clay, who was once the President of the Country Women's Association of Victoria, for decades but was unaware they were travelling together.
Following the conclusion of the second search, specialist detectives from the Victoria Police missing persons squad were brought in to assist local investigators.
Acting Sergeant Scott Wilkinson who was part of the team looking for the pair, said the search was substantial, but ultimately fruitless.
We were searching every bit of bush and terrain in the immediate area,' he told Nine News.
'The subsequent search has got nothing in the way of evidence, no signs at all of the missing people.
'We are disappointed, we would like to get some result, particularly for the families of the missing people.'
Detective Insp Andrew Stamper of the Missing Persons Squad said police want to speak with anyone who may have seen the couple near the time they disappeared.
'This is a real and traumatic mystery and we need all the help we can get via Crime Stoppers,' Insp Stamper said.
Police said they continue to hold concerns for the pair due to the length of time they've been missing and because Mr Hill suffers from a number of medical conditions.
New clue in hunt for married man who vanished while camping with his friend seven weeks ago | Daily Mail Online