Ray, does the cam/lifters have 300,000 miles? You don't want to hear it, but if it does I HIGHLY recommend you put in a new cam/lifters/timing chain....seriously. (Option A)

Option B --> no cash, then just replace that ONE lifter & buy a stock auto parts one. IF you get lucky & the lifter isn't worn on the bottom (pretty likely it is worn & "mushroomed out"), then the big/strong magnet on a stick would work just pulling the valve covers & removing the rocker arms. After 300,000 miles, your odds aren't good that this will work, but what the heck?

Option C --> if the magnet doesn't work, then pull off the intake/carb as one piece. You might have to pry up on the lifter from beneath. If it's really stuck, you can pull out the camshaft & push it down & into the cam area and catch it (them) with a cardboard tube that fits inside the cam hole with a slot cut in it as a "catch tray". Someone on this board told me this trick recently and I just used it myself about 3 weeks ago...worked like a charm.

Personally, I'd put another cam/lifter/timing chain in it and try to go at least another 100,000 if it the engine doesn't smoke. You can get a better look at the valve gear with the intake & valve covers off.

If the motor was running really well, you might take a look at the valve stem seals while you're in there. Lastly, on a street car, there's no need at all for "fancy" lifters