Melt the butter in a large skillet over medium heat. Add mushrooms; cook and stir until tender.
Stir in the wine, and simmer until the liquid has reduced by half.
Stir in evaporated milk, and simmer again until the sauce becomes a thick gravy. Stir in the basil just before serving, add salt and pepper to taste.
Pour sauce over your favorite Gnocchi in a serving bowl
Add a little chopped green onion to enhance all of the delicate flavors. Also works well with a sprinkle of parmesan cheese.