Mercury has not been used in root canals for decades.
With the post exposed, I would suggest removing the tooth. Chances are there is not much left of the tooth to restore if the post is exposed, and while it can be saved, its usually not worth the effort. An extraction and implant is sometimes cheaper and much more predictable than saving a badly broken down tooth.
Since you are having symptoms (pulsating tooth) I would have it removed as soon as you can.