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I think the ending is fairly obvious, if you recall toward the beginning of the film Ottway shoots a wolf trying to attack the drillers. While the injured wolf is dying in the snow Ottway hovers over it and places his hand on the wolfs chest, the entire time we are clearly seeing the final labored breaths of the dying animal which is very similar to the scene at the end of the movie. Its pretty clear they both died, unless Ottway was pooped and decided to spoon with the alpha for a bit before returning to his aimless wandering through the Alaskan wilderness. Furthermore this scenario would never happen since pack alpha's rarely do any of the killing, however they are first to eat. Its good to be the alpha.