This is a Gauntlet (1985) clone in which the player either controls Thor or Sheba. The game also features a co-op mode, where both can be played simultaneously. The player has to fight his way through 15 dungeons, while collecting treasure. Opponents start in waves from some sort of spawn boxes, which must be taken out as soon as possible to prevent yet another wave.
If all treasure is gathered, a code is granted. At the end of the game, all codes have to be puzzled together.