Filed by Automated Filing Services Inc. (604) 609-0244 - Cignus Ventures Inc. - Exhibit 10-1






PURCHASE AGREEMENT

THIS AGREEMENT dated as of the 23rd day of March,
2005.

BETWEEN:

LARRY R.W. SOSTAD, of 818
– 470 Granville Street, Vancouver, British Columbia, Canada V6C 1V5

(hereinafter called the “Vendor”)

OF THE FIRST PART

AND:

CVI EXPLORATION LTD., a
British Columbia corporation having its registered office at #1880, 1055 West
Georgia Street, Vancouver, British Columbia, Canada V6E 3P3

(hereinafter called the
“Purchaser”)

OF THE SECOND PART

WHEREAS:

A. The Vendor is the sole recorded and beneficial owner of the
mineral claims described in Schedule “A” hereto (the “Property”);

B. The Vendor wishes to sell an undivided 100% interest in and
to the Property to the Purchaser and the Purchaser wishes to acquire such
interest pursuant to the terms and conditions hereinafter set out;

NOW THEREFORE THIS AGREEMENT WITNESSES that in
consideration of the premises and of the mutual covenants and agreements
hereinafter contained, the parties hereto agree as follows:

VENDOR’S REPRESENTATIONS AND WARRANTIES

	1. 	
      The Vendor represents and warrants to the Purchaser
      that:

	 	 	 
		(a) 	
      He is the sole recorded and beneficial owner of an
      undivided l00% interest in and to the Property;

	 	 	 
		(b) 	
      The claims comprising the Property have been, to the best
      of the information and belief of the Vendor, properly located and staked
      and recorded in compliance with the laws of the jurisdiction in which they
      are situate, are







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			 accurately described in Schedule “A” and are
        valid and subsisting mineral claims as at the date of this Agreement;

	 	 	 
	 	(c) 	 The Property is in good standing under all applicable
        laws and regulations, all assessment work required to be performed and
        filed has been performed and filed, all taxes and other payments have
        been paid and all filings have been made;

	 	 	 
	 	(d) 	 The Property is free and clear of any encumbrances,
        liens or charges and neither the Vendor nor, to the best of the Vendor’s
        knowledge, any of his predecessors in interest or title, have done anything
        whereby the Property may be encumbered; and

	 	 	 
	 	(e) 	 He has the right to enter into this Agreement and to
        deal with the Property in accordance with the terms of this Agreement,
        there are no disputes over the title to the Property, and no other party
        has any interest in the Property or the production therefrom or any right
        to acquire any such interest.



PURCHASER’S REPRESENTATIONS AND WARRANTIES

	2. 	
      The Purchaser represents and warrants to the Vendor
      that:

	 	 	 
		(a) 	
      it has been duly incorporated, amalgamated or continued
      and validly exists as a corporation in good standing under the laws of its
      jurisdiction of incorporation, amalgamation or continuation;

	 	 	 
		(b) 	
      it has duly obtained all corporate authorizations for the
      execution of this Agreement and for the performance of this Agreement by
      it, and the consummation of the transactions herein contemplated will not
      conflict with or result in any breach of any covenants or agreements
      contained in, or constitute a default under, or result in the creation of
      any encumbrance under the provisions of the Articles or the constating
      documents of the Purchaser or any shareholders’ or directors’ resolution,
      indenture, agreement or other instrument whatsoever to which the Purchaser
      is a party or by which it is bound or to which it or the Property may be
      subject; and

	 	 	 
		(c) 	
      no proceedings are pending for, and the Purchaser is
      unaware of any basis for the institution of any proceedings leading to,
      the dissolution or winding up of the Purchaser or the placing of the
      Purchaser in bankruptcy or subject to any other laws governing the affairs
      of insolvent corporations.



SURVIVAL OF REPRESENTATIONS AND WARRANTIES

3. The representations and warranties in this Agreement shall
survive the closing of this transaction and shall apply to all assignments,
conveyances, transfers and documents delivered in connection with this Agreement
and there shall not be any merger of any representations and warranties in such
assignments, conveyances, transfers or documents notwithstanding any rule of
law, equity or statute to the contrary and all such 




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rules are hereby waived. The Vendor shall have the right to
waive any representation and warranty made by the Purchaser in the Vendor’s
favour without prejudice to any of its rights with respect to any other breach
by the Purchaser and the Purchaser shall have the same right with respect to any
of the Vendor’s representations in the Purchaser’s favour.

PURCHASE AND SALE

4. The Vendor hereby sells and assigns and the Purchaser hereby
purchases an undivided 100% interest in and to the Property for the sum of
$5,000 US.

FURTHER ASSURANCES

5. Concurrently with the execution of this Agreement the Vendor
shall execute or cause to be executed a Bill of Sale or such other documents as
the Purchaser may reasonable require transferring a 100% interest in and to the
Property to the Purchaser which the Purchaser shall be at liberty to record
forthwith. The parties shall execute all further documents or assurances as may
be required to carry out the full intent of this Agreement.

NOTICE

6. Each notice, demand or other communication required or
permitted to be given under this Agreement shall be in writing and shall be
delivered, telegraphed or telecopied to such party at the address for such party
specified above. The date of receipt of such notice, demand or other
communication shall be the date of delivery thereof if delivered or telegraphed
or, if given by telecopier, shall be deemed conclusively to be the next business
day. Either party may at any time and from time to time notify the other party
in writing of a change of address and the new address to which notice shall be
given to it thereafter until further change.

PAYMENT

7. All references to monies hereunder will be in United States
funds. All payments to be made to any party hereunder may be made by cheque
mailed or delivered to such party to its address for notice purposes as provided
herein.

ENTIRE AGREEMENT

8. This Agreement constitutes the entire agreement between the
parties and replaces and supercedes all agreements, memoranda, correspondence,
communications, negotiations and representations, whether verbal or express or
implied, statutory or otherwise, between the parties with respect to the subject
matter herein.




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GENDER

9. Wherever the singular or neuter are used herein the same
shall be deemed to include the plural, feminine or masculine.

ENUREMENT

10. This Agreement shall enure to the benefit of and be binding
upon the parties hereto and their respective successors and permitted
assigns.

COUNTERPART EXECUTION

11. This Agreement may be executed in several parts in the same
form and such parts as so executed shall together constitute one original
agreement, and such parts, if more than one, shall be read together and
construed as if all the signing parties hereto had executed one copy of this
Agreement.

IN WITNESS WHEREOF this Agreement has been executed by
the parties hereto as of the day and year first above written.

	/s/ Larry R.W.
      Sostad                              
    
	LARRY R.W. SOSTAD 
	    
	CVI EXPLORATION LTD. 
	by its authorized signatory: 
	    
	/s/ David K.
      Ryan                                   
    










 SCHEDULE “A”

 THE PROPERTY

	 Claim Name 	 Tenure Number 
	  	  
	 Moscena 1 	 404539 
	 Moscena 2 	 404540 


 All located in the Alberni Mining Division, British Columbia