The Might of the Sword... The Evil of the Sorcerer...
Deathstalker is a 1983 Argentine-American science fiction-fantasy adventure film directed by James Sbardellati (credited as John Watson) and starring Rick Hill, Barbi Benton, Bernard Erhard and Lana Clarkson.
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The warrior Deathstalker is tasked by an old witch to obtain and unite the three powers of creation - a chalice, an amulet, and a sword - lest the evil magician Munkar get them and use them for nefarious purposes.