A mate of mine pointed out to me just how many horror/Sci-Fi movies there exist dealing with random military men (and women) being sent into a top-secret and geographically remote government research facility or underground lab to eliminate some sort of experiment that went horribly wrong. As a matter of course, these people haven't got a clue what they will be battling against and, regardless of their intense training and superior skills, they get mercilessly ripped to pieces by something (usually an alien or a genetic experiment) much stronger and slimier than them.
Oh my, yes! There are so many flicks like that! James Cameron's "Aliens" is presumably the pioneering role model, because notably the 90s and early 2000s brought forward a copious amount of "send in the military" or "something's creeping in the underground lab" B-movies. "Deep Evil" is one of them, and proudly puts a tick in every box on the cliché-list, including the isolated location (Alaska), strange phenomena (alien water drops), macho soldiers (Lorenzo Lamas as the 'artillery & explosives' expert), and secrecy above all (if the monster doesn't kill you, the government will).
"Deep Evil" is a bad film, but I can't bring myself to write too many harsh and negative things about it. You know what to expect (or, at least, you should know) when choosing a film like this to watch, so what's the point in complaining how terribly unoriginal the script is, or how awfully cheap looking the stunts and special effects are? The idea of an aquatic alien species is reasonably interesting (although still stolen from, again, James Cameron and his "The Abyss") but the plot does the dumbest and most illogical things with it; - for example drops of water that turn into silver-colored spiders that look pathetically fake. The cast truly excels in giving the worst possible performances as possible. Of course, they're all well trained in this domain. Lorenzo Lamas honestly never starred in anything half-decent in his life, and Ona Grauer is the "star" of such Uwe Boll classics like "Alone in the Dark" and "House of the Dead".