Swan River RCMP were called to a home in the community, roughly 382 kilometres northwest of Winnipeg, around 3 a.m. Sunday.
Police say two men and two women were in the home when the door was kicked in by two men and a woman.
Investigators say the suspects demanded money and jewelry and tied up the four victims while the home was ransacked.
One of the victims, a 26-year-old man, was shot and the other three victims were assaulted before the three suspects fled.
The man who was shot was rushed to hospital, where he remained Monday in stable condition.
Police say a number of belongings were stolen from the home, including a vehicle.
The robbery was not random and some of the people involved are known to each other, police say.
Police continue to investigate and no arrests have been announced.
Anyone with information is asked to call Swan River RCMP at 204-734-4686 or Crime Stoppers at 1-800-222-8477.