The arrests came as patrols were stepped up in New Hall Lane following recent concerns about criminality and anti-social behaviour in the area.
Two men were stopped and searched and officers uncovered two large machetes, a black balaclava, a quantity of cash and a small amount of cannabis.
Both men have been arrested for possession of an offensive weapon and possession of Class A and B with intent to supply.
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A police spokesman said: "Following on from increased patrols in the area of New Hall Lane, this evening Preston Neighbourhood TaskForce have arrested two local males
"We will keep working hard to keep you the community safe."
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