Officers from the Island Lake detachment were called to a Wasagamack home just before 10 p.m., where they found a 27-year-old local man dead inside.
A second victim, a 33-year-old woman from Garden Hill First Nation, was suffering from a stab wound, police said.
She was taken to the local nursing statement for treatment.
A 30-year-old Wasagamack man, identified by police as Jon Hastings, is in custody facing charges of first-degree murder and attempted murder.
RCMP and forensic identification services continue to investigate.
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