Police got a call on the weekend from two people fishing at the Elbow River near the Weaselhead Bridge on the Tsuu T'ina (SOO-tee-nah) Nation.
The fishers had spotted the remains.
Mounties say the body is that of an 18-year-old Calgary man.
Police say the death is considered a homicide.
Tsuu T'ina police and the RCMP major crimes unit are investigating.
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