Manitoba RCMP confirmed on August 7 that officials had located bodies believed to be Schmegelsky and McLeod during a foot search of the area, approximately 8 km away from where the burnt vehicle was located last month, near Fox Lake Cree Nation.
They were suspected of three murders - those of an Australian-US couple and a Canadian man.
An autopsy on the two bodies was conducted in Winnipeg to confirm their identity and it was determined the two teens died by suicide from gunfire.
While McLeod and Schmegelsky were initially considered missing persons, they were soon linked with the murders and deemed wanted suspects. A burnt-out auto belonging to one of their alleged victims, Leonard Dyck, was found near Gillam on 23 July.
The Manitoba Medical Examiner said its autopsy can't determine exactly when Kam McLeod, 19, and Bryer Schmegelsky, whose 19th birthday was on August 4, died, but "there are strong indications that they had been alive for a few days since last seen in July and during the extensive search efforts in the Gillam area".
"However, there are strong indications that they had been alive for a few days since last seen in July and during the extensive search efforts in the Gillam area".
"Investigators are now assessing all items located in Manitoba, along with the previous findings related to the three northern BC homicide investigations, in order to gain more clarity into what happened to Leonard Dyck, Lucas Fowler and Chynna Deese", RCMP said.
McLeod and Schmegelsky, both from Vancouver Island, were on their way to Yukon territory for work when police reported them missing last month.
The pair were also suspects in the killings of 23-year-old Lucas Fowler of Sydney, Australia, and 24-year-old Chynna Deese of Charlotte, North Carolina.
The force's Behavioural Analysis Unit is assisting with the investigation.
The RCMP say once its review has been completed in the next few weeks it will provide the families with an update and then will release the information publicly.
Police remain in the Gillam area to search for evidence and on Saturday said they found a new item that "may be of interest" to the investigation.