Pump making screeching noise

[AussieSwimmer]

Hi guys, my pump has started making a very loud screeching noise. I noticed a small leak in pipework that was dripping in to the pump. Would this be the cause? I've attached some pictures, it ain't pretty.

 

[Texas Splash]

Would this be the cause?

Perhaps. Lots of external corrosion build up as well. But pumps/motors are generally designed to be outdoors in the elements, so even with a small drip, I'm not so sure that's the root cause. How old is the pump? It's possible the shaft seal is going bad allowing internal leaking which could then each the bearings inside.