Up to eight people in a suspected youth gang are believed to have attacked the boys in separate locations during the Saturday evening. The police were first called to an area where the 12-year-old was found stabbed, at 20 o'clock.
Despite the ambulance staff's attempts, they did not succeed in reviving him, says Graham Banks, inspector in the state of Victoria, during a press conference.
Shortly thereafter, the boy's 15-year-old friend was found on a nearby street with "extensive stab wounds". His life could not be saved either.
Witness statements and camera footage indicate that the attacks were carried out by the same group, according to Banks.
The investigation is in an early stage, but it bears the characteristics of a youth gang crime, says Graham Banks.