714144ed_Lost_Isle___Zelda_Dungeon_Wiki__Description
[Item/ Destination] Compass [Description] 
After some cutscene with the previous monster from level 1; head down, left, down, right, down, right, and up (through the middle path). Step on the blue switch there, head right, and open the chest for the Compass.
Lost Isle - Zelda Dungeon Wiki
Description