The Ghost Hill (1971)

The film opens with a duel on a beach between two master swordsman. An elderly master looks on as the two battle. He stops the duel and proclaims one swordsman the winner and awards him the coveted Purple Light Sword making him the new Sword King. He returns home to show his sickly teacher the treasure but they are attacked by the weird minions of evil King Gold who wants to combine the power of the sword with his developing Fire Ball power. The Sword King loses the sword, his master is killed and is forced to join forces with his opponent from the duel to retrieve it. Along the way they are joined by the daughter of the Blind Master and later the Beggar Army.