The Lost Hounds

The Lost Hounds
The Lost Hounds can be started by talking to the Hunter marked by a Plot Point in the Hunting Grounds - East. He is calling for two dogs and asks you to keep an eye out for them. Upon accepting the quest, it is suggested that you focus on The Master's Salve.

You will find upon entering the West part of the Hunting Grounds, that there is another Plot Point not far ahead. Grab the winterberry towards the water next to the chest with the misc. potions and head towards the Plot Point. Approaching it will show the Hunter's dog, Sylvain, and that he wants you to follow him. He will lead you through a clearing with ghast nests. It's probably best to avoid interacting with them only because they're distracting and you'll have to go back to the clearing anyways.

Proceed to follow Sylvain into a small clearing with the Hunter's other poisoned dog. This quest is pointless without doing The Master's Salve, so as stated before, it's important that you do that quest first (that's why you grabbed the winterberry). Upon interacting with the dog, Tallis will state that the she's almost positive it's been poisoned by a wyvern.

You will then get the option to A: Leave him be (if you do this, you will go back to the Hunter and tell him. He will say that he'll go get him and try to find help, ending the quest without any reward.) C: Kill him (if you do this, then you will go back to the Hunter and tell him that he's with the Maker now. This will also end the quest without any reward.) If you choose to complete The Master's Salve, however, you will get a B option: Use the salve on the dog.

If you apply the salve, the dog stands up and both run into the clearing with the winterberry. There the Hunter will approach you and thank you. He will give you a sovereign (which may vary based on level, I'm not sure) and The Houndmaster's Short Bow made of Silvered Ash. The stats are as follows:

129 nature damage (121 per second) +269 attack 2.5% chance to infect with Walking Bomb Requires Archery and 38 Dexterity