This is the release schedule for Fedora 16. Fedora 16 is expected to release on 25th October 2011 for now. The deadline keeps changing time to time.
2011-08-16 Alpha Release
2011-09-20 Beta Release
2011-10-11 Compose ‘Final’ RC
2011-10-25 Fedora 16 Final Release
Source @ fedoraproject.org/wiki/Releases/16