Heat olive oil in medium-large saucepan over medium-high heat. Add mushrooms, shallots and garlic, and cook until shallots are translucent (approximately 2-3 minutes). Add rice and salt to the mushroom mixture, and stir to coat.
Stir 1/2 cup hot broth into rice mixture, and cook on medium-low heat, stirring constantly.
When broth is almost completely absorbed, add another 1/2 cup hot broth, and continue to stir.
Repeat until all broth has been absorbed in 1/2 cup increments.