Pirate Treasure Hunt

Using your treasure map, follow the clues to find the hidden loot.
― In-game description^[src]

"Pirate Treasure Hunt" is the fifth and final Master Thief Challenge in "Dead Men Tell No Tales" of Sly 3: Honor Among Thieves. The challenge is to find the hidden loot in Blood Bath Bay using the Treasure Map. As the Treasure Map is required, the challenge will not be available until after you finish the job "X Marks the Spot," which this challenge is a variation of.

Walkthrough

Clue	Directions
Center yourself tall on Mushroom Rock. By the Falls of Despair, your fate is locked.	In front of the waterfall is a bridge, and next to it is a big rock in a shape of a weird T; stand on it.
Off the rock do ye walk 7 paces, toward the place where seadogs sleep.	Trigger the map, and go 7 paces to the south.
Look toward the fearful flag, flying high in the sky and take ye 10 paces to your doom.	Exit map mode, and look at the skull keep flag. Bring up the map again and move 10 paces toward it.
Away from the lone boat and onto land walk ye 5 paces.	Move 5 paces to the southwest.
Like a sea hag, avoid the burning heat and take ye 9 paces away.	Move 9 pace to the south.
Skull keep lies before you, take ye 5 paces toward the pirate's curse.	Move 5 east towards Blood Bath Bay.
Walk toward the keel that was hauled up for a roof for 4 paces.	Move 4 paces to the northeast.
If you are sure you want it take ye a final 6 paces toward the Falls of Despair.	Move 6 paces to the waterfall to complete the challenge.