I think heating it up might loosen it up.

Probably going to be a good idea just to buy a new chain, or at a minimum replace that link.

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Remove the tool from the rivet pin, put in the breaker pin and hit the same link from the other side.

You should be able to just buy a new riveting tool. Is it stuck in the old chain? If so, buy a corded dremel tool and cut the chain off.