RCMP responded to a call shortly before 4 p.m. Wednesday and found the teen.
He was airlifted to an Edmonton-area hospital where he remains, said police.
Early Friday morning, investigators arrested and charged a 16-year-old boy with aggravated assault and breach of conditions. He is currently in custody awaiting a hearing.
Preliminary reports indicate the fight stemmed from bullying and previous fights between the two students, said police.