I would leave them alone. Many knives including some Spyderco's use rivets with a slightly protruding head -- for strength. You start sanding the head away and you make the knife weaker.
If rivets are brass or nickel, it doesn't take much to re-shape or smooth them; the metal's pretty soft. Start with a conservatively fine grit (maybe 600-1000), to protect the micarta; if it takes a little longer, so be it. It's unlikely you'll need to go any coarser, but if you choose to, I wouldn't go any lower than ~400 or so. Using a small wooden block or stick with some of the paper wrapped around it (or stuck to it, with some adhesive) will give you greater control; use it sort of like a file.
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