Second-round leader David Hearn posted a 4-under 67 to take second place at 13-under-par 200. Stephen Woodard stands alone in third place, but is four strokes back at minus-9 after a 68.
Compton, who held a share of the lead after round one, parred his first two holes before a birdie at the third. He came right back to birdie the fourth to get to minus-10.
The two-time winner on the Canadian Tour later birdied the sixth before parring his final three holes of his first nine.
Around the turn, Compton birdied Nos. 10, 12 and 14 to climb to minus-14 and take the lead. He closed his bogey-free round with a birdie at the par-4 closing hole of Pine Ridge Golf & Country Club.
'What a way to finish,' said Compton. 'That was just a great day of golf. David is a super guy and I'll tell you, he's one heck of a player. We matched each other shot for shot all day. I left it all out there today.'
Hearn stayed out in front early with birdies at the second, fourth and sixth. He also birdied the eighth to get to minus-13, but stumbled to a bogey at the following hole.
He again moved back to 13 under with a birdie at the par-5 12th. After bogeying the 16th, Hearn closed with a birdie at the last to take second place.
'That was an exciting finish,' Hearn said. 'I was very happy with my game today, but Erik just started turning it up on the back nine. It was a pleasure to watch him today. Hopefully, it will be more of the same Sunday. I'll try to make a couple of birdies out of the gate and see what happens.'
Stuart Anderson and Steve Scott share fourth place at 8-under-par 205. Ryan Ellis and Matt McQuillan are one stroke further back at minus-7.
Rob Oppenheim, Dustin Risdon, Russell Surber and Dan Swanson share eighth place at 6-under-par 207.