There are a total of twenty six exp point bags in The Legend Of Zelda 2 Link's Adventure. This game is currently available for the Nintendo Wii Virtual Console.
Exp Bag #1
The first experience point bag is located close to the main Hyrule castle. This castle is also called the North Castle. Follow the path from this castle to the north. On this path you'll see one tiny section of woods. Enter into this woods and you'll find a 50 point exp bag.
Exp Bag #2
You can find another exp bag in a cave that is just to the north west of Mido. This cave is also to the north east of Saria. After you exit the town of Rauru, head south. There is a boulder blocking the way and you will need to use the hammer. Continue south a small ways and go east. You'll see a cave with a boulder blocking it. Inside is a 200 exp bag.
Exp Bag #3
From the northern section of Saria, directly to the east, you'll see a one tile patch of woods. In this woods is a 100 exp bag.
Exp Bag #4
This bag is in the third palace in the swamp, the Midoro Palace. Right after you get the Magic Glove in this palace, head back into the room with the falling blocks. Destroy the blocks to find a hidden 50 exp bag.
Exp Bag #5
There is another exp bag in the Midoro Palace. In the lowest level of this palace you'll come across a three level area of bridges that vanish when you step on them. On the lowest bridge is a 100 point exp bag.
Exp Bag #6
Inside of the Island Palace is a 100 point exp bag. After going down the second elevator, go to the left or west. Go as far as you can and there are a bunch of blocks with a key there. Near the key you'll find the exp bag. Just keep destroying them all, and the hidden exp bag will be revealed.
Exp Bag #7
In the Island Palace is another 100 point exp bag. After you get off of the second elevator, head towards the east. On one of the high reaching platforms, you'll see an exp bag. Use your jump spell to get it.
Exp Bag #8
In the Island palace, go to the east after the second elevator. You'll see a red soldier in a brick type area. In the place where the red soldier is, you'll find a 100 exp bag.
Exp Bag #9
In the Island Palace you can get a 100 point bag by going east after the first elevator. You'll have to fight a couple of Stalfos enemies and you'll see the exp bag.
Exp Bag #10
Towards the east of Nabooru you'll see a one tile patch of woods. Go inside here for a 200 point exp bag.
Exp Bag #11
You can find another 200 point exp bag inside of the Island Palace. When you get of the first elevator, go east. You'll see several sections of blocks underneath you. There will be a key and you have to use the downward thrust to get it. Continue using the downward thrust and destroy the rest of the blocks to the east of the key. You'll find a hidden exp bag.
Exp Bag #12
Yet another 100 point exp bag can be found in the Island Palace. Right before the boss, you can get this bag by using the jump spell.
Exp Bag #13
This bag is to the south west of the Palace On The Sea. In this desert area, keep walking around until you activate a hidden area. Use the jump spell and go towards the right and you'll see the exp bag. This bag is worth 500 exp points.
Exp Bag #14
There is a 200 exp bag in the Palace On The Sea. Keep going right after the first elevator. On the vanishing bridge, you'll see the bag. Strike it quickly before the bridge vanishes beneath your feet.
Exp Bag #15
After getting off of the third elevator in the Palace On The Sea, go to the left. On both sides of a platform, will be poison droplets falling. Underneath the platform is another elevator. You'll see a 200 exp bag on top of this platform.
Exp Bag #16
This bag is also in the Palace On The Sea. After the third elevator go all the way to the left. Do not use any of the elevators on the way. Continue going as far as you can to the west. You'll see the exp bag sitting on blocks. To get this 200 point back, use the upward thrust to break the blocks.
