First make sure noise is fan belt related, you have a 3.0l and it could be Cam synchronizer.
Loosen and remove fan belt from Crank pulley
You can run a cold engine for a few minutes without water pump or alternator, Battery Light will stay on
If there is no squeaking then problem is with a slipping belt or pulley bearing
Water pump has a "weep hole" on the under side, if it's bearing starts to go the seal will fail and water will leak out that hole.
Shut off engine
If you hear the squeal then bushing in Cam Synchronizer is going out.
Rear top of engine, not to hard to change, but you need to manually rotate engine to #1 TDC(top dead center) before removing old and installing new, then match CPS(cam position sensor) pointer positions.
Older fan belts will start to slip, when they do they "glaze" the pulley when they slip.
Glazing is polishing, so the rougher pulley surface becomes very smooth.
When you put on the new belt it can still slip on the glazed surfaces, can't grip it.
While fan belt is off spin each pulley and listen for bearing squeak, idler and tensioner pulley bearings are common things to wear out.
Check fan clutch for wobble or squeak
Use Emory Cloth, flexible sand paper, to rough up each pulleys surface, remove any glazing.
You can also paint pulley surface, that will increase grip for fan belt.
Last edited by RonD; 04-30-2016 at 10:19 AM.