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Releasing stray cats is a bad idea really.
I very much second that! It is better to put a feral down than release it into a new territory. Better still is to get it fixed and release it back into your environment. If you take ferals out of an environment by killing them or trapping and moving, you leave a hole in the ecosystem that will first cause a boom in the prey those ferals usually take care of, and then will attract in other predators to take their place. If you TNR ferals their population will slowly and naturally decline as there are no new kittens to replace older stock that dies off. Then the ecosystem of your area will slowly retake that space.
Also, feral cats are very territorial and releasing a feral into a brand new place where they may encounter another feral colony is often a death sentence for them anyways, except it will be a slow painful death from fighting, infection, and/or starvation as the established cats will not allow them to hunt.
Finally, as Tala mentioned, you are putting the problem on someone else. I have a friend who's neighborhood got together and got all their ferals and house pets fixed only to have people dump more cats in their area because, presumably, they saw barns and figured it was a good place to dump off a cat. Cats can travel many miles from where you dump them and eventually they will be bothering someone new.
Do yourself, the cat, and everyone else a favor and either neuter/release (best) or put it down.