If you can believe it, we're revisiting Majora's Mask. But not really. For starters, look at this guys sword. It looks like the Great Fairy's Sword, only aged by a lot. And if you look really closely at the shield you can see the gaping mouth of the Mirror Shield.
Couple this with the fact that we last see Link in the Lost Woods, where if you die, you turn into a Stalfos, not to mention the fact that Link probably looked for Navi until he died, and you have a believable theory.