Preheat oven to 400. Toast bread, brushing beforehand with 3 tbsp of olive oil, until lightly golden on edges. (Note: I toasted bread, but eliminated olive oil – you could also use purchased bruschetta bread).
Thinly slice the mushrooms. In a large skillet, cook butter over high heat until lightly browned, 2 minutes. Add the remaining 2 tbsp of olive oil and the mushrooms and cook undisturbed until the mushrooms are browned on the bottom, 2 minutes. Continue to cook, stirring occasionally, until browned all over, 10 minutes. Add the shallots, garlic and thyme; lower the heat to moderate and cook until the shallots are tender, 5 minutes. Add the water and scrape up any browned bits from the bottom of the pan.
Spoon mushroom/shallots onto toast, molding a bit to stay on bread. Toast under broiler until cheese melts. Sprinkle with parsley and serve.
Note: I’ve prepared these crostini and frozen them on trays. Then pulled out later for toasting – seems to work fine.
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