Is it s constant squeak/squeal or is it more like a chirp noise?
When a release ("throw out") bearing goes bad it typically makes noise when you load it heavily, such as when you depress the clutch pedal. The symptoms can be a squeal, groan or a rumble, depending on the stage of failure.
If you're hearing a chirp, the release bearing itself may be okay and you must need to find a way to get a bit of grease or oil onto the release arm fulcrum. This is the point at which the arm pivots when the pedal is pressed. Even a bit of runout in the diaphram spring can cause the release bearing to push a bit against the release arm and, if the pivot is dry, this can make a squeaking noise.
I wouldn't adjust the release arm tighter. That will result in the release bearing turning all the time. It's not designed for that and will wear quickly.