Birmal Circle Deputy Superintendent of Police (DSP) Nadir Khan Wazir said the injured children were identified as Imran and Khan Syed. They were taken to the District Headquarters Hospital in Wana for medical treatment.
Wazir said police had registered an initial report and launched an investigation into the incident.
The blast has once again raised concerns over the threat posed by landmines and unexploded ordnance in Lower and Upper South Waziristan.
Residents said incidents involving old landmines and other explosive remnants had been reported in different parts of the two districts over the years, with children frequently among those affected.
They said explosive remnants allegedly left behind after past military operations continued to pose risks to communities in some areas.
Residents noted that children were particularly vulnerable as they might not recognise the danger posed by abandoned explosive devices while playing or travelling through open areas.
They called on security authorities and relevant departments to conduct comprehensive surveys of affected areas and identify and clear remaining landmines and other explosive remnants.
They also stressed the need for systematic mine-clearance operations and greater public awareness to prevent further casualties, particularly among children.