Mostow said that the film of Marvel's first mutant is in the works:
"These characters have been around forever and to really do justice to them and make the right movie, you have to get the script right," Mostow told MTV News. "So we're still working on that and we'll see. With everything Marvel, we like to keep it in a shroud of secrecy."
Bill Everette created the Sub-Mariner first appearing in 1939. Namor made his first appearance in "Marvel Comics" #1 published by Marvel's predecessor, Timely Comics.
This from MTV:
"Born of a human sailor and an Atlantean princess, Namor made a name for himself by ruling the oceans and battling Nazis and other menaces alongside Captain America and others during World War II.
Though Namor would later resurge as a recurring antihero in Marvel's "Fantastic Four" series, with that franchise now seemingly in limbo, having Namor tie into the upcoming "Captain America: The First Avenger" franchise isn't implausible, story-wise. However, Universal currently owns the rights to the "Sub-Mariner" movie, so any overlap in the Marvel Studios world is highly unlikely."
And that really stinks as it would be nice to see Namor match wits with the Fantastic Four fighting the Human Torch. Or see Namor help Captain America out like he has so many times in the comics. Marvel really needs to get their ducks in a row as far as properties are concerned. As soon as they do, just imagine the possibilities.