Mr Waugh, 37, was found dead with a gunshot wound to his chest when police were called to the Watson unit he shared with his partner on November 3 2016.

The items, which will now undergo forensic testing, were found by police during a search of the Queanbeyan River and surrounding areas. 

ACT Policing's Detective Acting Sergeant Matthew Challenger said the search covered difficult terrain, including two degree water and praised the search team's efforts.

"It's a major step in the investigation," he said.

"The items will be tested by forensics as soon as practicable."

In late July police charged Karabar man Taniela Manu Pikula, 29, with being an accessory to the crime. 

Police alleged Pikula assisted two men being investigated for Waugh's murder - Jason Pikula-Carroll, 21, and Tavake Lee Pikula, 31 - between November 3 and November 14.

The two men have not yet been charged.

The search included the assistance of AFP Search and Rescue, forensics experts, maritime divers, NSW Police and the ACT Policing Criminal Investigations unit.

"It's important to remember that Eden Waugh had a family, there are people that miss him," Detective Acting Sergeant Matthew Challenger said.

"If anyone has information out there, even if they think it's little, it can be a big step for us."

Anyone who was in the area of the Queanbeyan River near River Drive, Karabar, between the 4th and 6th of November, 2016, and who may have seen anyone acting suspiciously has been urged to contact Crime Stoppers on 1800 333 000. 

Information which assists in solving a crime may be applicable for a reward of up to $1000.