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The chirping noise that goes away when you take all pressure off the clutch, or if you disengage the clutch (which loads the throwout bearing firmly), sounds like a failing throwout bearing. However, you want to be really sure that this is the problem before you go to all the work to drop that transmission and replace the throwout.
I believe that your '89 would have had a clutch lever return spring down on the actuating fork, outside the bell housing. My '91 did NOT use the spring on the actuating fork. The Volvo parts guy told me that mine relied on a spring up under the dash that didn't work very well. I presume that a '93 would be similar.
I added a spring to the actuating fork on my '91 when the car was only four years old, and it made the clutch work and self-adjust correctly. I had to make a bracket and bolt it to the side of my transmission so that I had a place to hook the other end of the spring.
If you don't have a light spring pulling back your actuating fork, you might want to add one. A cheap spring from the hardware store will work just fine. A pound or two of pull is all you need.
I hope you don't need to replace your throwout bearing. If you do, and you do the job yourself, you need a transmission jack or a couple of stout buddies under there with you. That transmission is heavy and awkward. I almost hurt myself doing it alone.
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