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On my '91 300, the valve is on the back of either the head or the intake manifold. I'm pretty sure it's the head, and it was a PITA to reach. That may give you a starting point just as somewhere to look
1991 F150 XLT Lariat - 300 I6/E4OD, 2 Wheel Drive, Bright Regatta Blue Metallic - SOLD
1994 F150 XL - 302/E4OD, 2 Wheel Drive, 3.55LS, 5% tint, 1.5" wheel spacers, more mods to come