Advice of an Eastern bishop: do not do it. Throw it into the ocean.
There is a good reason. More often than not, you may actually think you are strong enough and can overcome any potential temptations or seductions the evil spirit(s) will subject you to. Unfortunately, that is not your humility talking, that is your pride talking. The simple truth is: you will not. You will be tempted and seduced, that is what evil spirits do. And you will submit, sooner or later.
Why on Earth would even someone ask a question like this. This question is not much different from a question “May I steal stuff from my class-mates?” or “May I smack arround people with whom I disagree?”
The answer will come to you on its own if you go to Divinee Liturgy often, pray honestly and in contemplation at least an hour each day and fast at least one day a week. Believe me, clarity comes along with that, then you will see it clearly, how dangerous it is to have anything to do with cursed objects and places.
I have tried the rite for casting out evil spirits several times. Unless you are a priest or bishop living very purely (so that the evil spirits, who smell every sin and every impurre thought have no grounds to stand their own) and you fast at least three days and you have full strength (you are not tired), you will not succeed and the result afterwards will be worse than before.
I send a protection prayer on the wings of Archangel Michael, the First General of the Heavenly Hosts.
–Vladyka Gavrilo