The player controls the hero Telos on his winged horse Pegamis and has to explore two caves within a large scrolling playfield.

While exploring the caves the player is threatened by flying creatures called "Nemesides" that appear occasionally.

The player must also avoid obstacles such as striking lightning, exploding volcanoes, and falling rocks.

The game has three difficulty levels which differ in the amount of strength deducted when running into adversaries and in the frequency of the appearance of Nemesides.

Cavelord received a positive review in the March 1985 issue of German magazine Happy Computer.