The incident occurred at an isolated area near warehouses in Suratgarh town.
"The boy, Pathan Bhaat, was collecting scrap when he found an unused bomb. He was trying to extract metal from the bomb when it exploded leaving him and a goat dead," SP Sriganganar Santosh Chalke said.
Chief minister Ashok Gehlot is scheduled to visit Suratgarh town late in the evening to inaugurate a model school building but the explosion has no connection with the visit, the SP said.