Deathstalker [AKA El Cazador de la Muerte] (1983, dir. John Watson [James Sbardellati]) 

An outlaw warrior quests to reunite three fabled artefacts also sought by an evil magician. Tatty and at times po-faced sword and sorcery exploitation piece, albeit with intermittent amusing asides and a couple of fun lo-fi John Buechler monster effects. Three sequels followed.

Here’s the trailer.