A genetic research corporation loses contact with an Artic expedition, so to rescue them, they send out another team which includes China's answer to Indiana Jones. After many pitfalls, dungeons, and booby traps, the rescue team stumbles across a land of giant monsters, the primitive tribe that worships them, and the remnants of the first team. But...betrayal is in their midst!
It should perhaps also be mentioned that there really is no "vs. Ice Shark" in this movie. There were multiple ice sharks, and each one, although gargantuan to humans, was about the size of a medium-sized bass to the even-more-gargantuan Snow Monster, which basically grabbed "the ice shark" by the tail and smacked it against a mountain like a sardine until it died.