you don't say what sort of clamp it is - either on a steel frame it will be part of the seat tube or a separate, usually aluminium collar.
but in both cases, for the clamp to work, there has to be a gap between the lugs you are bringing closer together when doing up the bolt....... so are you able to get a hacksaw blade or small dremel cutting off disc in that gap and cut through the bolt?
drilling the bolt requires care to keep the drill bit centred, start with small drill, say 4 mm and increase the size until the head comes off or is weakened.
again if you have a dremel you could try making a slot for a screw driver so that the head breaks off.
good luck.