Iran Press/ Africa: "Our forces are pursuing the enemy to rescue those abducted and destroy this group," defence spokesperson Felix Kulayigye said on Twitter.
Authorities did not say how many people had been abducted by the attackers, members of the rebel group Allied Democratic Forces (ADF) that has pledged allegiance to Islamic State.
The assailants attacked Lhubirira Secondary School in the western border town of Mpondwe late on Friday, burning a dormitory and looting food, police said.
"So far 40 bodies have been recovered from the school and transferred to Bwera Hospital. Also recovered are eight victims, who remain in critical condition at Bwera Hospital," police said on Twitter.
Police did not say how many of the dead were schoolchildren.
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