Two male students are dead after a brazen daytime shooting in Etobicoke, which police say may have been a "targeted" incident.

The double shooting happened outside of the Toronto District School Board's School of Experiential Education, on McArthur Street near Islington Avenue and Dixon Road, at approximately 12:30 p.m.

Toronto EMS says one person was pronounced dead on scene. The other victim was taken to hospital with life-threatening injuries, but died of his injuries. Both victims were male, EMS said.

Toronto Catholic District School Board (TCDSB) trustee Maria Rizzo confirmed to CTV Toronto Monday afternoon that one of the victims was a 15-year-old student from James Cardinal McGuigan, a Catholic high school located near Finch Avenue West and Keele Street. She said the other victim was also a student, but she did not know if he was a student at a TCDSB or Toronto District School Board high school.

Supt. Ron Taverner said police believe the shooting may have been a "targeted" incident but that the investigation was still in the preliminary stages.

"Obviously it is of great deal of concern that there are people out there with firearms that use them….We are working on trying to bring those individuals into custody," Taverner told reporters Monday afternoon.

Police previously said that one person is in custody, and that they are looking for at least three suspects.

The experiential school, Don Bosco Catholic Secondary School, Kingsview Village Junior School and St. Maurice Catholic School were all in a hold-and-secure earlier in the day but all lockdowns have since been lifted.

'Bang, bang, bang'

Area resident Michael Snary was walking his dog at the time of the shooting. He said he saw a large group of what appeared to be young people -- some of them wearing Don Bosco uniforms -- headings toward a park located near where the two victims were found.

He said the group appeared to be fighting, before the shots rang out.

"Three gunshots, real fast – bang, bang, bang," Michael Snary," told CTV Toronto. "You'd think it was just going to be a fight, and kids will be kids, but then you hear the gunshots and it brings it to another level."

Police have not said if any Don Bosco students were involved in the shooting.

Anyone with more information is asked to call police at 416-808-2222.

With a report from CTV Toronto's Austin Delaney, John Musselman and Janice Golding