Most of mushroom do contain some quantity of toxin within them. Suggest a way to prepare a mushroom extract which exclude the toxins along the process.
I'm not sure if I fully understood your interesting technical question. Perhaps you should specify in more detail what the purpose of your mushroom extracts will be. In general, the most effective and sustainable method for preparing natural mushroom extracts is ultrasonic extraction using edible mushrooms and non-toxic solvents such as bio-ethanol, organic-certified alcohol or water. Typical mushroom toxins such as amatoxins or phallotoxins are cyclic peptides which are also soluble in these solvents. Thus when you plan to prepare a typical "mushroom extract" from non-edible (toxic) mushrooms, chances are that the toxins are extracted together with the desired components. Of course you can use non-polar solvents like hexane or petroleum ether. These solvents will leave the toxins behind, but also most of the other mushroom components.
Good luck with your work and best wishes, Frank Edelmann
It is NOT essay to extract the components not include the toxic components.
Extract all components together using different organic solvents, start with non-polar ( n-hexane), ethyl acetate, methanol, finally 70% methanol.
Separate the single component using chromatographic techniques ( MPLC is the best. Test the toxicity for each component in order to assign the toxic and non toxic components. Identify the single compounds using different spectroscopic methods.