You're seeing just the function release, go back to Exqlite.Sqlite3 module for more information.
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release(conn, statement)

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release(db(), statement()) :: :ok | {:error, reason()}

Once finished with the prepared statement, call this to release the underlying resources.

This should be called whenever you are done operating with the prepared statement. If the system has a high load the garbage collector may not clean up the prepared statements in a timely manner and causing higher than normal levels of memory pressure.

If you are operating on limited memory capacity systems, definitely call this.