Systems and methods for generating pulses in a drilling fluid are described. The systems are configured to be positioned along a tubular string through which a drilling fluid flows. The systems include a housing supported along the string. A valve stator is supported by the housing and has at least one flow path that extends from an upstream end to a downstream end of the valve stator. A valve rotor is positioned adjacent the valve stator and configured to selectively obstruct the at least one flow path. An axial gap is present between the valve rotor and the valve stator. A motor is coupled to the valve rotor to rotate the valve rotor relative to the valve stator and an axial release assembly having a rotational element is configured to adjust the axial gap between the valve rotor and the valve stator based on a rotation of the rotational element.