Port Hardy RCMP responded to a complaint of shots fired on Beaver Harbour Road, shortly after midnight on Friday.
Upon attendance, police determined that shots had been fired into a residence and secured the scene.
Two suspects were arrested a short distance away.
John William Melan, 35, and William Nason, 48, have since been charged with firearm related offences and have been remanded in custody pending a future court appearance.
No one was injured as a result of this incident.
As part of the ongoing investigation, police executed a search warrant at a residence located on Byng Road.
Firearms and a quantity of drugs and cash were seized.
The investigation is ongoing and anyone with information is asked to call the RCMP at 250-949-6335.