Dungeon Magic (1994)

The evil magician has brought an evil spirit back to life and is plotting to seize control of the kingdom, and has kidnapped the princess for use as a sacrifice. Four warriors venture into the world of magic to save the princess of the kingdom from the wicked magician: Ash the knight, Gren the roving warrior, Cisty the elf, who whole family was destroyed by the evil spirit in the past, and the old magician Vold with the magic staff must now set off to save the princess.