It sounds like you have a fan in the front going out. Fans are very important to your computer as it gets hot inside and heat can shorten the life of your computer and its devices.
If you get a flashlight, look at that fan you think is going out and find the wire, there should be only a single thin wire. Trace that wire back to your motherboard. It will be a tiny plastic end and with your computer off, unplug that wire from your motherboard. Turn your computer back on and listen to see if that noise is gone. If yes, then the fan is going out.
If that fan is going out, you can easily replace it with a better fan. They are relatively cheap and you would want to get a new fan with a metal ball bearing as they last much longer. You will need to know the size of your present fan going out too. It could be an 80mm or a 120mm sized fan. It will have 4 screws holding it in your case. See my fan links below for some good deals.
Also since you have the case off, check your other fans and make sure they are all spinning. You should have a case fan in the back, hopefully, exhausting the hot air, or bringing in cool air, plus you will have a cpu fan going too.
I generally buy a can of compressed air and every few months I blow the dust off my fan fins and get them clean again. In this computer I have 3 fans plus a cpu fan going.
Here are some good sites that offer very well priced fans.
Case Fans from Tiger Direct: http://www.tigerdirect.com/applications/category/category_slc.asp?CatId=494&
Case Fans from New Egg: http://www.newegg.com/Product/ProductList.aspx?Submit=ENE&DEPA=0&Description=case+fans&x=0&y=0
If that bad fan is the only case fan that you have, aside from from the fan over your cpu, you might want to leave the case off and aim a small desk fan at your computer until you get a replacement.
Good Luck!