How about a 'check out this forum' exchange?
 

We've all heard about post and banner exchanges, but how about a simple 'check out this forum' exchange?

I would say be completely open with our users, sommin like:

Quote:
Hi All,

I've got together with a few admins who run other sites that may be of interest to you. We thought it would be a good way to spread word about other decent independently run sites, whilst getting our-own-forum-name-here some exposure in the process.

If you get a few minutes please check them out - thanks!

Link One
Description

Link Two
Description

Etc
In fact I think we should stick to the same template so it's an equal footing. Also, I think it would be a good idea if the sites are of vague interest to our users, but not competing. So a car forum would be ok on a gaming forum etc

If you are up for this post in here with some details about your forum and how many visitors log on daily.

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Here's mine

Console gaming forum - currently up to 40 users log in daily.
Photography forum - currently up to 30 users log in daily.