Adder's Lair is the headquarters of the Death Adder, taking place in a demonic valley with lava and an active volcano. As with Dragon Canyon, parts of the track get destroyed during every lap of the race as the volcano rumbles, changing its layout.
The track begins as a boat-race in a river of lava. When the racers reach dry land, the track snakes through ancient ruins and around an evil-looking statue, possibly Death Adder itself. Then the track re-enters the river of lava which flows over a waterfall and into the valley where the race began.
The music of this track is a remix of The Wilderness, which transitions into Turtle Village 1.
The dragon that appears when the player summons magic, the elven thief, and the statue that appears on the character select screen in the first Golden Axe game make cameo appearances.