You will need a schematic- so here's one- 61 (*
Remove wood from metal. Formby's Furniture Refinisher, and Linspeed Oil. Linspeed is not a typo. Be very careful with Formby's- flammable as hell.
Rust- great stuff called KROIL. Paint it on (its an oil) lets set for a day, use a nylon scubbing pad or a copper Chore Boy scrubber wetted with more KROIL, and rub gently. There may be no bluing left. You can check for smiths in your area that can buff and reblue. Cold blue will not look the same as a pro hot blue.
Remove other parts from metal (leave barrel connected to frame) Use KROIL and a toothbrush to scrub crud off parts. Wear gloves.
It will NOT look like a new rifle, but it can be improved.