The Mist Veil lies at the bottom of the sea near Mist's Edge in Darkshore.
Mist Veil is one of several sunken frigates in Darkshore, and whose lockboxes are the objective of the quest 
[17] Deep Ocean, Vast Sea. It was attacked and sunk by murlocs as it was approaching Auberdine after having crossed the Great Sea. Some of the crew survived by swimming ashore, but the captain went down with the ship. The Mist Veil lies just north of Silver Dawning.
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The Mist Veil underwater.
