In Below, the lantern is one of the items that will help you progress further into the game, and it’s pretty important to have on you at all times. Unfortunately, the nature of Below is that you’re going to die a lot. And when you do, you’re going to drop the lantern and any items you are carrying.
However, if you head back to the spot where you died you will be able to retrieve the lantern from where it was dropped. In most cases the lantern will be with your dead body as an item that can be picked up separately from your item stash from your previous life.
Below is also somewhat of cryptic game that tries to let you learn the rules on your own so it doesn’t tell you that it will lead you in the direction of the lamp if use the rudimentary map features of the game. You can access the in-game map by pressing the back button on the controller.
This will bring up an overlay on the screen that shows you what level of the game you are on and a room map. The way this works is that the number at the top of the screen is the level you are on. The icon to the right of that is your lantern location and the icon to the left is your dead body.
To find the lost lantern you will simply look at this overlay and then head to the level that you died. If you are not on the right level it will tell you go lower into the world by indicating a down arrow under the lantern icon. If there is no white mark in the lantern overlay it means that you have the lantern and it can be accessed by pressing the LB button.