One man is dead after an early morning shooting in Burnaby, B.C., mere blocks from a local elementary school.

The shooting was reported around 9:00 a.m. near the corner of Buller Avenue and Ewart street - just south of Burnaby's Clinton Elementary.

Neighbours reported hearing up to ten shots fired in bursts.

"Bang, bang, bang. I knew straight away it was gun shots, and suddenly I saw a couple guys wearing black running in directions opposite of one another," area resident Satya Nand told CTV News.

The victim, believed to be an Asian male, has not been identified. He was found lying on the sidewalk in front of a residential driveway.

So far, no suspects have been reported, but police say the shooting appears to be targeted.

"At this time it does appear to be a targeted attack, but it's too early to link it to drugs and gangs at this point," Sgt. Jane Baptista said.

A large area has been taped off and police dogs are scouring the area, located just east of Matthews Creek Ravine Park.

There have been more than 50 shootings in Metro Vancouver in 2009, 21 of them fatal.

Watch CTV News at Five and CTV News at Six for more on this developing story.