The two were among a group of four who consumed the mushrooms – similar to edible straw mushrooms – at a party in Canberra.
One person has been discharged from hospital but the other three were transferred to Sydney’s Royal Prince Alfred hospital where two later died.
The death cap mushroom is be found in many Canberra suburbs, usually near oak trees.
It is also common in Melbourne suburbs and in some Victorian country towns.
Eating the mushrooms can cause stomach pains, vomiting, diarrhoea and jaundice. Liver and kidney failure can also occur.