Try using a small nail as the punch that just fits the hole size. It is best if you can file off the point or cut the tip of the nail off. Coat hanger wire maybe about the right size.
If this does not work.....try putting some oil or even better....some "liquid wrench" on it to loosen it up some. Then try the Punch again.
PM me if you still can't get out. The shear pin is made of a soft metal.....so it will break before more damage is done to the trolling motor. Some other kind of metal can be used to "get you going" again. But buy a [or several] shear pins as soon as possible.
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