Diablo 1 HD Hellfire Mod | Awake

So, I'm noticing there's no Save function. I'm only in Cathedral 1, so haven't died yet, but, does no Save mean Permadeath? I'm not clear on how this works.

You will die eventually. This will send you back to town with all your gear. You will drop quite a bit of gold tho, that can be picked up later where you fell. I haven't noticed any other penalties.