Two thousand years ago, the dwarf Albrek went looking for new mines in the land of Thraxon in the hopes of becoming rich — and vanished. Now the dwarves must find Albrek's magical Ring of Searching before their mines run dry, a possibility which threatens the livelihood of the entire dwarf realm.

Alexander Taylor joins a familiar company of adventurers on a quest to discover what happened to Albrek, find his mythical tomb, and locate the lost talisman.

But finding the ring may be the least of the adventurers' problems once they cross paths with an ancient, wandering paladin, Bane, who warns of a great evil working in all of the known lands. Following in Albrek's footsteps, Alex and his friends travel to the haunted Isle of Bones, where a mysterious creature lurks in a deserted village, to the cursed city of Neplee, where the dwarfs are hunted by the undead hellerash, and through the shadow of an empty oracle's tower, where a whispered legend is about to come true.