The Lady Elizabeth is one of the better wreck dives on Rottnest's south side and a reliable winter option. She was a 48 m composite barque of 658 tons - wooden planking on iron frames - that left Fremantle on 25 June 1878 bound for Shanghai with sandalwood. Heavy gales pushed her back south, and after four days the master turned for shelter. In failing light he mistook the land for Parker Point and tried to run through the South Passage, striking the reef near Dyer Island on 30 June; one crew member was lost overboard.

Today about two-thirds of the wreck lies on clean sand extending south, with the rest set into the limestone reef. Sources differ on which end is which - divingwawrecks puts the stern among the reef, marinelife.org.au says the stern is partly buried in sand and the bow in the reef - but both agree there is a lot of structure: iron frames and hull, and the WA Museum trail mentions hull and masts. On clear days the wreck can be seen from the surface.

The surrounding reef has caves that are good for photography, and Dolphin Scuba notes turtles, leafy seadragons and firefish among the sightings. The protected water behind Dyer Island gives this site its calm character and visibility of 10-20 m. It suits Open Water divers and photographers, and pairs well with Crystal Palace and the Porpoise Bay caves a few hundred metres away. The Museum notes that the wreck can be seen from the surface on clear days, which helps with anchoring.

Perth charters (Perth Scuba, Bucket List Diver, Dolphin Scuba) run from Fremantle to the south side of Rottnest, about 50-70 minutes. Private boats launch at Fremantle or Woodman Point and navigate carefully into the lagoon behind Dyer Island - the reefs of the South Passage are shallow and have claimed several ships, so approach in good light and use the GPS. Anchor on sand clear of the wreck and reef.

Sheltered by the outer reef and Dyer Island, the site is described as very calm, but it faces the South Passage and swell wraps in through the gaps; divingwawrecks recommends under 1 m of swell. Good in northerly and easterly winds; poor in strong southerlies. Winter often brings very clear water here (up to 20 m) between fronts.

Descend on the sand beside the hull, follow the ribs and hull south along the sand, then turn back toward the reef where the other end of the ship lies embedded, and explore the caves and ledges nearby before returning to the boat.

Dolphin Scuba lists it among its winter Rottnest sites; Perth Scuba and Bucket List Diver use it as a sheltered south-side option on Rottnest day trips; dive clubs from private boats.