After the fall, Shrader said Waddell found himself trapped -- with several rattlesnakes surrounding him.
Because of a pact between the two men, Shrader was able to find Waddell when he went missing.
"He called me Monday and told me he was coming to the mine. And we always had a deal, if he is not back by Tuesday (to come check on him)," Shrader told KNXV. "As I pulled out my truck I could hear him hollering. 'Help, help!'"
Shrader quickly drove out of the desert to get help, the television station reported. It took six hours to extricate Waddell from the mine.
Waddell is in good condition Thursday night, hospital officials told KNXV.