Lt. Col. Steve Austin versus the Arnold version of Mr. Freeze.
The environment is cold enough that damaging the suit won't kill Freeze but warm enough that it won't slow down Austin's bionics.
Starting from a hundred feet with Austin having no ranged attacks in the arena is too much of an advantage for Freeze so we'll assume there are objects strewn about the arena and Austin starts with a rock at his feet that he can pick up and throw.
While Austin's existence as a bionic man is a secret in his world, I'm going with the idea that Freeze has knowledge equal to having watched some episodes of the show and Austin watched "Batman and Robin" (which explains why he's bloodlusted at having to do that).