Reports said the children held on to a wooden banister on the bridge for support but they fell because it was weak.
Fortunately, Master Anthony Aboagye, 10, who also fell in the river survived by holding firm to the grass along the banks until he was rescued.
The Prestea District Police Commander, Superintendent of Police, Timothy Dassah told the Ghana News Agency that the children lived with their parents in cottages behind river Asasere on which a bridge had been built.
He said the wooden banisters on which the children used for support broke and they fell into the river.
He said on the fateful day the deceased and their mates were left behind after closing from school around 1530 hours.
Four of the pupils, who had apparently crossed the River, rushed to the nearby cottages and informed the people of what had happened.
Superintendent Dassah said they quickly rushed to the scene only to find the two dead boys and rescued the other.
He said the bodies were later retrieved and deposited at the Prestea Government hospital morgue for autopsy.