Replace binary image (white pixel) to red pixel

I have encounter some problem, I have 2 images (1 binary image, the other color image). Currently, i have converted the binary image (black part) to transparent, leaving only the white.

bm_label.MakeTransparent(Color.Black);

Now i need the binary image (Remaining - white part) to change to red. So that when i do a 'layering' on color image, the those red pixels will be reflected instead of the white.

Advance Thanks!