Scorers: Stranraer – Own goal (27) and Walker (56); Bonnyrigg Rose – Smith (31) and Currie (Pen 90+6)
A stoppage time penalty from Lee Currie denied battling Stranraer a second consecutive home victory.
The Blues had twice led but were pegged back on both occasions by unbeaten Bonnyrigg Rose, making their first visit to Stair Park.
Jamie Hamill made two changes from the side that lost out at Forfar seven days ago.
Josh Walker was brought into the team while Matty Grant made his first start for the club having arrived from Pollok as Scott McLean and James Hilton dropped to the bench.
Stranraer had been impressive against Annan Athletic on the opening day of the campaign and started in exactly the same manner.
Not even a minute had been played when visiting goalkeeper Mark Weir was called into action.
Grant and Craig Malcolm had linked up well outside the box and Paul Woods managed to fire his effort on target.
It was all Stranraer in the opening quarter of an hour but they were given a warning on 19 minutes.
Currie’s corner was nodded back across goal by Robert Wilson and it came back off the post before Kerr Young blazed the rebound well over the bar.
Stranraer then got their noses in front with a brilliant free-kick.
Anton Brady’s delivery was begging for someone to get on the end of it and it was the unfortunate Wilson who got there ahead of Malcolm to nod the ball beyond his own goalkeeper.
The lead was little more than Stranraer deserved but almost immediately they conceded.
Kyle Girvan and Dylan Forrest got in a tangle in the middle of the park and Bonnyrigg quickly countered with Kevin Smith on hand to tap home Josh Grigor’s drive across the box.
Bonnyrigg edged things in the opening stages of the second half but it was Stranraer who got back in front.
Luke Watt drove the ball across the box and Walker, from even closer than Smith had been, put the ball in the back of the net.
Just when Stranraer fans were perhaps contemplating back-to-back home wins, there was another twist in the tale.
The home defence had cleared a corner to the left hand side and Craig Ross timed his challenge on Scott Gray wrong, earning himself a straight red card.
Immediately, Hamill reshaped things as Scott Dunn was brought on for goalscorer Walker.
Bonnyrigg huffed and puffed but it looked like the home defence was going to hold firm.
That was until deep into stoppage time when Dunn in an attempting to clear the ball brought down the Bonnyrigg player.
There were only seconds left but Currie kept his cool to beat Luke Scullion and ensure the spoils were shared.
Stranraer: Scullion, Ellis, Girvan, Ross, Brady (Hawkshaw 79), Malcolm, Walker (Dunn 68), Woods (McLean 79), Forrest, Watt, Grant (Hilton 74).
Not used: Robertson, Duffy and O’Connor.
Bonnyrigg Rose: Weir, Martyniuk (Grigor 28 (Doan 74)), Young, Wilson, Horne (Khan 74), Stewart, McGachie (Hall 53), Currie, R Gray, S Gray, Smith.
Not used: Andrews.
Referee: Steven Kirkland