Two men are dead after they were involved in an "altercation" with each other in Mississauga early Saturday, Peel police say.

Both were found outside a residence suffering from stab wounds.

Police were called to an address in the area of Glen Erin Drive and The Collegeway for a disturbance at 12:55 a.m., according to Const. Sarah Patten, spokesperson for Peel Regional Police.

In a press release Saturday, police said one of the men was 28 years old, while the other was 44.

One man was pronounced dead at the scene, while the other was transported to hospital where he later died.

The men knew each other but were not related, Patten told reporters near the scene on Saturday morning.

"We do believe at this time that this is an isolated incident, with no immediate threat to the public. And our homicide bureau is currently investigating," Patten said.

Homicide detectives are canvassing area residents, looking for security camera video from nearby buildings and searching for evidence in the double homicide. (James Morrison-Collalto/CBC)

Patten said police are not looking for any other suspects and do not consider the incident to be a murder-suicide.

"It's our understanding that this altercation took place between both males, not necessarily an attack on one male. It is being treated as a double homicide, but it's still early in the investigation," she said.

The victim's names and exact ages have not been released.

Peel police's homicide unit continues to seek witnesses to the altercation.

Detectives are canvassing residents who live in the area, looking for security camera video from nearby buildings and searching for evidence in the stabbing deaths.

Police declined to say what they think the two men were fighting about.

"As to the specifics of the incident, I'm unaware," Patten said.

Police say this is an isolated incident and investigators are not currently seeking any outstanding suspects.