This recipe was given to me by our daughter, Linda Deuell. It has become a favorite at Sunrise Landing Recipe.
5 Squares unsweetened chocolate (I use Ghirardelli - and you can use part semi-sweet if you like your sauce sweeter)
1/2 cup butter
1 can evaporated milk
3 cups confectioner's sugar
1 1/4 teaspoon vanilla
Melt chocolate and butter - remove from heat. Add sugar and milk alternately. Bring to boil over medium heat, stirring constantly. Cook and stir approximately three minutes till thick and creamy. Remove from heat and stir in vanilla. Serve warm